The stock of Industrial Alliance Insur. & Fin. Ser. (TSE:IAG) hit a new 52-week high and has $61.90 target or 9.00% above today’s $56.79 share price. The 5 months bullish chart indicates low risk for the $5.87B company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $61.90 price target is reached, the company will be worth $528.30 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 10,042 shares traded hands. Industrial Alliance Insur. & Fin. Ser. (TSE:IAG) has risen 41.25% since April 19, 2016 and is uptrending. It has outperformed by 35.92% the S&P500.
Industrial Alliance Insur. & Fin. Ser. (TSE:IAG) Ratings Coverage
Out of 4 analysts covering Industrial Alliance (TSE:IAG), 1 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 25% are positive. $57 is the highest target while $2.50 is the lowest. The $52 average target is -8.43% below today’s ($56.79) stock price. Industrial Alliance has been the topic of 25 analyst reports since July 24, 2015 according to StockzIntelligence Inc. TD Securities maintained Industrial Alliance Insur. & Fin. Ser. (TSE:IAG) on Wednesday, June 15 with “Buy” rating. RBC Capital Markets maintained it with “Sector Perform” rating and $43 target price in Wednesday, June 15 report. Scotia Capital maintained the stock with “Sector Perform” rating in Wednesday, June 15 report.
Industrial Alliance Insurance and Financial Services Inc. is a Canada company, which offers a range of life and health insurance products, savings and retirement plans, mutual funds, securities, auto and home insurance, mortgage loans, and other financial services and products. The company has a market cap of $5.87 billion.
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