The Globe and Mail reports in its Friday, Aug. 4, edition that RBC Capital analyst Geoffrey Kwan has reaffirmed his "outperform" recommendation for Intact Financial. The Globe's David Leeder writes in the Eye On Equities column that Mr. Kwan tweaked his share target ahead by $2 to $230. Analysts on average target the shares at $218.93. Mr. Kwan says in a note: "Although Q2/23 results were largely in line with our forecast, we think results in personal auto provided stronger evidence that Intact can achieve a sub-95-per-cent combined ratio, an encouraging sign given we think there is some investor concern about Personal Auto given financial results and commentary from certain U.S. and U.K. auto writers. Overall, we think Intact continues to deliver solid financial results and we still view it as a core holding, reflecting positive fundamentals; potential catalyst(s); defensive attributes; and a reasonable valuation." The Globe reported on March 1 that Mr. Kwan continued to rate Intact Financial "outperform" when it was worth $196.72. The Globe reported on April 29 that Barclays analyst John Aiken had reiterated his "overweight" call on Intact Financial, which was then going for $206.17.