Canada's Definity Financial up after multiple brokerages raise PT

Definity Financial

13/11/2023 19:02

** Insurer Definity Financial's shares  DFY.TO  up 1.9% at
C$37.68
    ** UBS raises PT to C$41 from C$40, CIBC lifts to C$42.50
from C$40.50 
    ** National Bank of Canada raises PT to C$54 from C$53
    ** Rate increases across the entire auto book should
contribute significant margin improvement in 2024 - CIBC
    ** "We view the Q3 update as positive based on the increase
in guidance for investment income and strong commercial lines
results" - CIBC
    ** 7 of 11 brokerages rate the stock "buy" or higher, 4
"hold"; median PT C$42.25 - LSEG
    ** As of last close, DFY stock down 3.9% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)