BMO Capital Markets Adjusts Fairfax Financial Price Target to C$2,200.00

BMO Capital Markets has raised its price target for Fairfax Financial (TSE:FFH) from C$1,850.00 to C$2,200.00, according to a report released on Monday. This new target suggests that there is a potential upside of 20.71% based on the stock's last closing price.

Recent Analyst Comments

Several other analysts have recently provided updates on their outlook for Fairfax Financial. For instance, the Royal Bank of Canada increased their price target from C$1,325.00 to C$1,425.00, also rating it as "outperform" in a report published on October 3rd. Furthermore, National Bankshares raised their target to C$2,200.00, affirming an "outperform" rating on October 30th. Scotiabank mirrored National Bank's adjustment, raising their target to C$2,200.00 in a note issued on Monday as well. In addition, Cormark increased their price target from C$1,800.00 to C$2,125.00 in a report also published on Monday.

Current Stock Performance

During midday trading on Monday, shares of Fairfax Financial dropped by 3.5%, reaching C$1,822.53. The trading volume was reported at 26,819 shares, well below the average volume of 54,450 shares. Fairfax Financial's 50-day moving average stands at C$1,681.82, while the 200-day moving average is C$1,587.94. Over the past year, the stock has hit a low of C$1,171.70 and a high of C$1,890.36. The company's market capitalization is approximately C$42.48 billion, with a P/E ratio of 8.15 and a PEG ratio of 0.27.

On August 1st, Fairfax Financial released its quarterly earnings report showing earnings of C$50.87 per share, which slightly missed the analysts' expectations of C$51.23 by C($0.36). The company’s revenue for that quarter was reported at C$10.25 billion, with a net margin of 12.27% and a return on equity of 17.91%. Analysts currently predict Fairfax Financial will report around 212.30 earnings per share for the year.

Insider Transactions

In the realm of insider activity, Director Brian David Young sold 4,280 shares of the stock on August 30th at an average price of C$1,617.96, resulting in a total transaction value of C$6,924,875.22. He sold another 173 shares on August 15th for an average price of C$1,566.13, amounting to about C$270,940.49. Following these transactions, he holds just 202 shares valued at approximately C$316,358.26. Over the last three months, insiders have sold a total of 6,953 shares valued at $11,304,176, with corporate insiders owning about 3.76% of the company's total shares.

About Fairfax Financial Holdings

Fairfax Financial Holdings Limited offers a diverse range of services which include property and casualty insurance, reinsurance, and investment management across various markets including the United States, Canada, Asia, and beyond. Its operations are categorized into segments such as Property and Casualty Insurance and Reinsurance, Life Insurance, and Non-Insurance Companies.

BMO, Financial, Analyst