CIBC Increases Fairfax Financial (TSE:FFH) Price Target to C$1,400.00

Posted by on Aug 6th, 2023

Fairfax Financial (TSE:FFH – Get Free Report) had its price objective increased by analysts at CIBC from C$1,300.00 to C$1,400.00 in a report issued on Friday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. CIBC’s target price points to a potential upside of 24.12% from the stock’s previous close.

A number of other brokerages also recently weighed in on FFH. BMO Capital Markets lifted their target price on Fairfax Financial from C$1,150.00 to C$1,225.00 in a report on Wednesday, April 19th. Cormark lifted their target price on Fairfax Financial from C$1,150.00 to C$1,400.00 in a report on Monday, June 12th. National Bankshares lifted their target price on Fairfax Financial from C$1,300.00 to C$1,350.00 in a report on Tuesday, May 2nd. Royal Bank of Canada lifted their target price on Fairfax Financial from C$775.00 to C$875.00 and gave the stock an “outperform” rating in a report on Tuesday, May 16th. Finally, Scotiabank lifted their target price on Fairfax Financial from C$1,350.00 to C$1,500.00 and gave the stock an “outperform” rating in a report on Monday, July 24th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of C$1,291.67.

Fairfax Financial Price Performance

Shares of FFH opened at C$1,127.98 on Friday. Fairfax Financial has a 1 year low of C$612.00 and a 1 year high of C$1,133.52. The company has a debt-to-equity ratio of 36.28, a current ratio of 3.84 and a quick ratio of 0.93. The company has a market capitalization of C$26.20 billion, a price-to-earnings ratio of 12.14, a price-to-earnings-growth ratio of 0.31 and a beta of 0.91. The business has a 50-day moving average of C$996.39 and a 200-day moving average of C$937.57.

Fairfax Financial (TSE:FFH – Get Free Report) last issued its quarterly earnings data on Thursday, May 11th. The company reported C$66.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$57.39 by C$9.39. Fairfax Financial had a return on equity of 8.83% and a net margin of 6.37%. The company had revenue of C$8.49 billion during the quarter, compared to the consensus estimate of C$11.08 billion. As a group, equities research analysts anticipate that Fairfax Financial will post 167.6274834 earnings per share for the current year.

Insider Activity

In related news, Director Eric Salsberg sold 500 shares of Fairfax Financial stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of C$988.09, for a total transaction of C$494,042.50. Corporate insiders own 3.59% of the company’s stock.

Fairfax Financial Company Profile

(Get Free Report)

Fairfax Financial Holdings Limited, through its subsidiaries, provides property and casualty insurance and reinsurance, and investment management services in the United States, Canada, Asia, and internationally. The company operates through Property and Casualty Insurance and Reinsurance, Life insurance and Run-off, and Non-Insurance Companies segments.

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