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

CI Financial (TSE:CIX) had its price target lifted by stock analysts at BMO Capital Markets from C$22.00 to C$25.00 in a report issued on Friday,BayStreet.CA reports. BMO Capital Markets’ price objective would suggest a potential upside of 3.95% from the stock’s current price.

A number of other research firms also recently commented on CIX. Jefferies Financial Group boosted their price objective on CI Financial from C$20.00 to C$27.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. TD Securities lifted their target price on CI Financial from C$26.00 to C$28.00 and gave the stock a “buy” rating in a report on Friday. Raymond James lifted their target price on CI Financial from C$22.00 to C$27.00 in a report on Friday. Finally, Scotiabank lifted their target price on CI Financial from C$25.00 to C$26.00 in a report on Friday. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$23.63.

CI Financial Price Performance

Shares of CIX traded down C$0.47 during midday trading on Friday, reaching C$24.05. The stock had a trading volume of 204,884 shares, compared to its average volume of 421,847. CI Financial has a 52 week low of C$13.59 and a 52 week high of C$24.95. The company has a debt-to-equity ratio of 577.47, a current ratio of 0.34 and a quick ratio of 0.17. The firm’s 50 day moving average price is C$20.28 and its 200-day moving average price is C$17.19. The company has a market capitalization of C$3.40 billion, a P/E ratio of -89.07, a P/E/G ratio of 0.04 and a beta of 1.67.

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.