The Globe and Mail reports in its Thursday, Nov. 6, edition that National Bank Financial analyst Jaeme Gloyn has reaffirmed his "outperform" recommendation for Intact Financial. The Globe's David Leeder writes in the Eye On Equities column that Mr. Gloyn gave his share target a $6 boost to $364. Analysts on average target the shares at $319.62. Mr. Gloyn says in a note: "We reaffirm our view that Intact Financial remains well positioned to benefit from what we see as favourable conditions across most segments in the P&C insurance industry through 2026 while continuing to deliver solid profitability in lines facing modestly increasing premium growth headwinds. Intact Financial merits a premium valuation given the track record of consistent execution to deliver 10-per-cent EPS growth and to outperform its competitors on ROE. Moreover, with a debt to total capital ratio of just 18 per cent, Intact Financial is well positioned to execute accretive acquisitions, or as we learned this quarter, materially ramp up the buyback. Thus, we maintained our target valuation multiple." The Globe reported on Oct. 28 that Mr. Gloyn continued to rate Intact Financial "outperform." The shares could then be had for $262.90.
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