BMO Capital Markets Forecasts Strong Price Appreciation for CI Financial (TSE:CIX) Stock

CI Financial (TSE:CIX) had its target price hoisted by equities research analysts at BMO Capital Markets from C$22.00 to C$25.00 in a note issued to investors on Friday,BayStreet.CA reports. BMO Capital Markets’ price objective suggests a potential upside of 3.95% from the company’s current price.

A number of other brokerages also recently commented on CIX. Scotiabank boosted their target price on CI Financial from C$25.00 to C$26.00 in a research note on Friday. Jefferies Financial Group boosted their price target on CI Financial from C$20.00 to C$27.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Raymond James boosted their price target on CI Financial from C$22.00 to C$27.00 in a research report on Friday. 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 research report on Friday. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$23.63.

CI Financial Stock Down 1.9 %

TSE CIX traded down C$0.47 on Friday, reaching C$24.05. The stock had a trading volume of 204,884 shares, compared to its average volume of 421,847. The business has a 50 day moving average price of C$20.28 and a 200 day moving average price of C$17.19. The company has a current ratio of 0.34, a quick ratio of 0.17 and a debt-to-equity ratio of 577.47. CI Financial has a 1 year low of C$13.59 and a 1 year high of C$24.95. The company has a market capitalization of C$3.40 billion, a price-to-earnings ratio of -89.07, a P/E/G ratio of 0.04 and a beta of 1.67.

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.