Inter Pipeline Ltd. (OTCMKTS:IFCZF) Short Interest Up 39.7% in September

Inter Pipeline Ltd. (OTCMKTS:IFCZF) saw a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 243,300 shares, an increase of 39.7% from the August 31st total of 174,200 shares. Based on an average daily volume of 400 shares, the days-to-cover ratio is currently 608.3 days.

A number of research analysts have commented on IFCZF shares. CIBC lifted their price objective on shares of Inter Pipeline from $140.00 to $155.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. Royal Bank of Canada dropped their price objective on shares of Inter Pipeline from $155.00 to $151.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. Scotiabank lifted their target price on shares of Inter Pipeline from $151.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. TD Securities lifted their target price on shares of Inter Pipeline from $150.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Finally, BMO Capital Markets lifted their target price on shares of Inter Pipeline from $160.00 to $165.00 and gave the company an “outperform” rating in a report on Thursday, July 30th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Inter Pipeline has an average rating of “Buy” and an average target price of $156.20.

Shares of OTCMKTS:IFCZF remained flat at $$104.48 during midday trading on Thursday. 2,767 shares of the stock traded hands, compared to its average volume of 2,494. The company’s 50-day moving average price is $107.49 and its 200 day moving average price is $98.47. Inter Pipeline has a 1-year low of $74.23 and a 1-year high of $117.51.

About Inter Pipeline

Intact Financial Corporation, through its subsidiaries, provides property and casualty insurance products to individuals and businesses in Canada and the United States. It offers personal auto insurance; and insurance for motor homes, recreational vehicles, motorcycles, snowmobiles, and all-terrain vehicles.

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