21:02:37 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Industrial Alliance Insurance and Financial S
Symbol IAG
Shares Issued 102,434,942
Close 2016-01-18 C$ 39.05
Market Cap C$ 4,000,084,485
Recent Sedar Documents

Globe says targets cut for Industrial, rival lifecos

2016-01-18 07:02 ET - In the News

Also In the News (C-GWO) Great-West Lifeco Inc
Also In the News (C-MFC) Manulife Financial Corp
Also In the News (C-SLF) Sun Life Financial Inc

The Globe and Mail reports in its Saturday, Jan. 16, edition that in a research note on the Canadian lifecos sector ahead of the release of fourth quarter earnings, Credit Suisse analyst Kevin Choquette expects "solid" results. The Globe's David Leeder writes in the Eye On Equities column that Mr. Choquette, however, says the first quarter of 2016 "looks weak" given the recent turbulence in the equity markets, which he notes impacts assets under management growth, fund flows and margins. Mr. Choquette reduced his target price for the sector's stocks by 7 per cent based on "lower earnings estimates, lower equity market valuation and China geopolitical risk." He also downgraded his rating for Industrial Alliance Insurance and Financial Services to "underperform" from "neutral" based on its higher leverage to equity markets and its lack of foreign exchange support. He reduced his share target price for Industrial Alliance to $45 from $47. Analysts on average target the shares at $47.40. His other target changes were: Great-West Lifeco (neutral) to $38 from $39; Manulife Financial (outperform) to $24 from $28; Sun Life Financial (outperform) to $48 from $52.

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