These are top 10 stocks traded on the Robinhood UK platform in July
RBC Capital initiated coverage of Definity Financial Corp (TSX:DFY) with an outperform rating and a price target of C$87.00 on Wednesday.
The rating reflects RBC’s view that Definity’s current valuation does not fully account for benefits from its acquisition of Travelers (NYSE:TRV), which has transformed the company into Canada’s fourth-largest property and casualty insurer.
RBC Capital noted the acquisition positions Definity as a "scaled challenger" poised to deliver outsized growth through market share gains in the Canadian insurance market.
The financial firm highlighted that Definity is progressing well toward its medium-term operating return on equity target of 12% on a core basis.
RBC also pointed to Definity’s track record of achieving growth without compromising underwriting profitability as evidence of strong management that positions the company to continue delivering excess returns over time.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.