CIBC Issues Positive Forecast for CI Financial (TSE:CIX) Stock Price

CI Financial (TSE:CIX) had its target price raised by investment analysts at CIBC from C$23.00 to C$32.00 in a report issued on Tuesday,BayStreet.CA reports. CIBC’s price objective would indicate a potential upside of 2.99% from the stock’s previous close.

Several other research analysts have also recently commented on the stock. Raymond James raised their target price on shares of CI Financial from C$27.00 to C$32.00 in a report on Tuesday. Scotiabank lifted their price objective on CI Financial from C$25.00 to C$26.00 in a report on Friday, November 15th. Jefferies Financial Group increased their target price on CI Financial from C$20.00 to C$27.00 and gave the stock a “buy” rating in a report on Friday, November 1st. TD Securities downgraded CI Financial from a “buy” rating to a “sell” rating and boosted their price target for the company from C$28.00 to C$32.00 in a research note on Tuesday. Finally, BMO Capital Markets increased their price objective on shares of CI Financial from C$22.00 to C$25.00 in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of C$27.94.

CI Financial Trading Up 0.3 %

CIX stock opened at C$31.07 on Tuesday. CI Financial has a 52 week low of C$13.59 and a 52 week high of C$31.41. The company has a market capitalization of C$4.39 billion, a PE ratio of -115.19, a price-to-earnings-growth ratio of 0.04 and a beta of 1.67. The company’s 50-day simple moving average is C$21.63 and its 200 day simple moving average is C$17.70. The company has a debt-to-equity ratio of 577.47, a quick ratio of 0.17 and a current ratio of 0.34.

About CI Financial

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.