The Globe and Mail reports in its Tuesday, Oct. 18, edition that Desjardins Securities analyst
Doug Young says the third quarter results for Canadian
lifecos will be "noisy." The Globe's David Leeder writes in the Eye On Equities column that Mr. Young, however, says, "We
anticipate good core EPS growth
over the next year (core excludes
accounting mark-to-market
impacts) driven by acquisitions,
turnaround of certain businesses,
partnerships, growth in wealth
management and expense efficiency
initiatives." Mr. Young maintained his "buy" call on Industrial Alliance Insurance and Financial Services ($48.90), while hiking
his price target to $52 from $48.
Analysts on average target the shares at $48.40. Mr. Young maintained his "buy" call on Industrial Alliance in the Eye column on Jan. 19. The shares could then be had for $39.05. Canaccord Genuity analyst Gabriel Dechaine maintained his rating on Industrial Alliance at "hold" in the Eye column on Jan. 26. The shares were then worth $39.81. Credit Suisse analyst Kevin Choquette cut his rating on Industrial Alliance to "underperform" from "neutral" in the Eye column on Sept. 14. The shares could then be had for $45.98.
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