Raymond James Forecasts Strong Price Appreciation for CI Financial (TSE:CIX) Stock

CI Financial (TSE:CIX) had its price objective upped by Raymond James from C$22.00 to C$27.00 in a report published on Friday morning,BayStreet.CA reports.

A number of other brokerages have also recently weighed in on CIX. Scotiabank raised their price target on CI Financial from C$25.00 to C$26.00 in a research report on Friday. Jefferies Financial Group upped their target price on CI Financial from C$20.00 to C$27.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, TD Securities boosted their price target on CI Financial from C$26.00 to C$28.00 and gave the stock a “buy” rating in a report on Friday. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$24.50.

CI Financial Price Performance

Shares of TSE:CIX opened at C$23.92 on Friday. CI Financial has a 12 month low of C$13.59 and a 12 month high of C$24.95. The firm has a market capitalization of C$3.38 billion, a price-to-earnings ratio of -88.59, a price-to-earnings-growth ratio of 0.04 and a beta of 1.67. The business’s 50 day simple moving average is C$20.55 and its 200-day simple moving average is C$17.29. The company has a debt-to-equity ratio of 577.47, a current ratio of 0.34 and a quick ratio of 0.17.

CI Financial Company Profile

CI Financial Corp. is a publicly owned asset management holding company. Through its subsidiaries, the firm manages separate client focused equity, fixed income, and alternative investments portfolios. It also manages mutual funds, hedge funds, and fund of funds for its clients through its subsidiaries.