The Globe and Mail reports in its Friday edition that Raymond James's Stephen Boland has reiterated his "outperform" ranking for Intact Financial. The Globe's David Leeder writes that Mr. Boland now targets the shares at $264, down from $269. Analysts on average target the shares at $268.67. Mr. Boland says in a note: "On Aug. 24, Intact (IFC) provided an estimate of the impact arising from catastrophe events in the quarter. Summer 2024 in Canada was record-breaking for the industry, as four catastrophic weather events caused a combined total of over $7-billion in insured losses. The total loss figure is nearly $1-billion more costly than the next most devastating year in history and reflects a 406-per-cent increase in claims compared to the 20-year average. Notably, two months (July and August) drove the total and materially increased the historical trend. ... As a result, we are increasing our total expected catastrophe losses for 3Q24 to $1.1-billion (from $226-million) after the company revised guidance. Positively, the company has not updated the revision since, as they indicated they would if other significant catastrophe losses occurred or if the amount of losses materially differed from this estimate."