Fiserv earnings missed by $0.61, revenue fell short of estimates
Investing.com - Barclays initiated coverage on Intact Financial Corp (TSX:IFC) (OTC:IFCZF) with an Overweight rating and a price target of C$312.00.
The research firm cited Intact Financial’s consistent ability to deliver differentiated ROE and BVPS compounding, outperforming peers by over 650 basis points over the past decade as key factors supporting the rating.
Barclays highlighted the company’s defensive edge amid broader global P&C price softening, noting its limited exposure to the broader P&C pricing environment due to its focus on small-to-mid sized accounts in the commercial space and the ongoing firm market in Canadian personal auto insurance.
The firm also pointed to Intact Financial’s scale and expense advantages, which may be further enhanced through strategic M&A using its sizable excess capital, along with its advanced position in telematics and risk selection supported by an AI-driven tech stack developed over the past decade.
Barclays expects Intact Financial’s net operating income per share to grow 6% by 2027, with estimated ROE of 14.9% in 2026 and 14.3% in 2027, supporting the company’s target to outperform peers by 500 basis points and grow NOIPS by 10% annually over time.
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