BMO Capital Markets Forecasts Strong Price Appreciation for iA Financial (TSE:IAG) Stock

iA Financial (TSE:IAG) had its target price raised by investment analysts at BMO Capital Markets from C$225.00 to C$235.00 in a note issued to investors on Wednesday, BayStreet reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets‘s target price suggests a potential upside of 5.49% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Scotiabank raised their price target on shares of iA Financial from C$168.00 to C$198.52 and gave the stock a “sector perform” rating in a research note on Wednesday, July 15th. TD lifted their price target on shares of iA Financial from C$219.00 to C$225.00 and gave the stock a “hold” rating in a report on Tuesday. Scotia upped their price objective on iA Financial from C$198.52 to C$223.00 and gave the company a “sector perform” rating in a research note on Thursday, August 6th. Desjardins increased their price objective on iA Financial from C$220.00 to C$230.00 and gave the company a “hold” rating in a report on Wednesday. Finally, Canadian Imperial Bank of Commerce raised their target price on iA Financial from C$208.00 to C$220.00 in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of C$217.17.

iA Financial Stock Up 2.8%

TSE IAG traded up C$6.01 during trading hours on Wednesday, reaching C$222.77. 198,235 shares of the company were exchanged, compared to its average volume of 325,613. iA Financial has a 1 year low of C$145.44 and a 1 year high of C$225.14. The business’s 50 day simple moving average is C$209.44 and its 200-day simple moving average is C$185.75. The stock has a market capitalization of C$19.69 billion, a P/E ratio of 19.17, a P/E/G ratio of 1.26 and a beta of 0.74.

iA Financial (TSE:IAG) last announced its quarterly earnings data on Monday, November 9th. The company reported C$4.03 EPS for the quarter. The business had revenue of C$3.06 billion for the quarter. iA Financial had a net margin of 8.29% and a return on equity of 13.70%. As a group, sell-side analysts anticipate that iA Financial will post 11.62 earnings per share for the current year.

iA Financial Company Profile

iA Financial Group is one of the largest insurance and wealth management groups in Canada, with operations in the United States. Founded in 1892, it is an important Canadian public company and is listed on the Toronto Stock Exchange under the ticker symbol IAG (common shares). To learn more about iA Financial Group, you can sign up for our newsletter on our website at ia.ca. iA Financial Group is a business name and trademark of iA Financial Corporation Inc.