CI Financial Corp (CIX) Given a C$30.00 Price Target at Scotiabank

CI Financial Corp (TSE:CIX) received a C$30.00 price target from equities researchers at Scotiabank in a research report issued on Friday. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s price target indicates a potential upside of 6.95% from the stock’s current price.

Several other research analysts have also issued reports on CIX. Desjardins dropped their price objective on CI Financial Corp from C$28.00 to C$27.00 and set a “hold” rating for the company in a research note on Friday. TD Securities increased their price objective on CI Financial Corp from C$27.00 to C$28.00 and gave the stock a “hold” rating in a research note on Friday. Barclays PLC increased their price objective on CI Financial Corp from C$28.00 to C$29.00 and gave the stock an “overweight” rating in a research note on Friday, November 4th. Royal Bank Of Canada dropped their price objective on CI Financial Corp from C$28.00 to C$26.00 and set a “sector perform” rating for the company in a research note on Friday, November 4th. Finally, Canaccord Genuity upgraded CI Financial Corp from a “hold” rating to a “buy” rating in a research note on Friday, November 4th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of C$29.00.

Analyst Recommendations for CI Financial Corp (TSE:CIX)

CI Financial Corp (TSE:CIX) traded down 0.50% during mid-day trading on Friday, reaching $27.91. The company’s stock had a trading volume of 250,770 shares. The stock’s 50 day moving average is $28.02 and its 200 day moving average is $26.38. The company has a market cap of $7.45 billion and a price-to-earnings ratio of 15.01. CI Financial Corp has a 12 month low of $23.52 and a 12 month high of $30.34.

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In other news, Director Barry Huntly Gordon sold 30,000 shares of the firm’s stock in a transaction on Thursday, January 12th. The stock was sold at an average price of C$28.50, for a total value of C$855,000.00.

CI Financial Corp Company Profile

CI Financial Corp. (CI) is a wealth management and investment fund company. The Company is engaged in management, marketing, distribution and administration of mutual funds, segregated funds, exchange-traded funds, structured products and other fee-earning investment products for Canadian investors. CI operates through two segments: Asset Management and Asset Administration.

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