The Globe and Mail reports in its Thursday edition that National Bank analyst Jaeme Gloyn has reaffirmed his "outperform" call and $225 share target for Intact Financial. The Globe's David Leeder writes that analysts on average target the shares at $220.17. Mr. Gloyn says the Canadian property and casualty insurance sector remains "well positioned" for dthe near term. He points to "hard market condition and higher interest rates that support improved investment income." Mr. Gloyn says in a note: "Intact continues to merit a premium valuation as we expect the company will continue to produce double-digit NOIPS [net operating income per share] growth and roughly mid-teens OROE over the medium-term. ... We believe personal auto has reached a positive inflection point. Persistent hard market conditions elsewhere in the business also increase the likelihood Intact will deliver earnings outperformance in the near term. For context, Intact delivered total company combined ratio of 95 per cent in 2018 and 2019 compared to 89 per cent in 2020 and 2021. We forecast 95 per cent for the full-year 2023, followed by 92 per cent through 2024, which we believe is reasonable given recent performance in hard market conditions."