RBC keeps Sector Perform on Intact Financial and Onex but cuts price targets
RBC Dominion Securities kept Sector Perform ratings on Intact Financial and Onex while lowering targets to C$285 from C$308 and C$129 from C$135 per share.
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what happened
Analysts at RBC Dominion Securities maintained their Sector Perform rating on Intact Financial Corp. and Onex Corp., but lowered price targets on both stocks. The target for Intact Financial was cut to C$285 per share from C$308, while the target for Onex was reduced to C$129 from C$135 per share.
Both changes were reported at 15:09 GMT in a batch of rating actions. The rating stayed the same, so the revision concerns price expectations rather than the overall view on the shares.
why it matters
A lower price target with an unchanged rating means analysts have adjusted their valuation estimates without altering their core recommendation. For market participants the signal is moderate: the revision concerns price benchmarks rather than the direction of the stocks, and the original report gives no reasons for the change.
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