CIBC Thinks Fairfax Financial’s Stock is Going to Recover

Fairfax Financial (FFHResearch Report), the Financial sector company, was revisited by a Wall Street analyst yesterday. Analyst Paul Holden from CIBC remains bullish on the stock and has a C$700 price target.

According to TipRanks.com, Holden is a 2-star analyst with an average return of 0.3% and a 45.8% success rate. Holden covers the Financial sector, focusing on stocks such as Fairfax Financial Holdings, Manulife Financial Corp, and Sun Life Financial.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Fairfax Financial with a C$703.75 average price target.

Based on Fairfax Financial’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of C$139 million. In comparison, last year the company had a net profit of C$1.11 billion.

Fairfax Financial Holdings Ltd. engages in the provision of property and casualty insurance, and reinsurance and investment management. It operates through the following segments: Insurance and Reinsurance, Runoff and Other.

The company’s shares closed on Friday at C$599.56, close to its 52-week low of C$565.99.

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