CI Financial (TSE:CIX) Hits New 52-Week High Following Analyst Upgrade

CI Financial Corp. (TSE:CIX) reached a new 52-week high during mid-day trading on Tuesday after CIBC raised their price target on the stock from C$23.00 to C$32.00. The stock traded as high as C$31.41 and last traded at C$31.22, with a volume of 5734430 shares. The stock had previously closed at C$24.01.

A number of other research firms have also issued reports on CIX. Raymond James increased their price target on shares of CI Financial from C$27.00 to C$32.00 in a research report on Tuesday. Scotiabank lifted their price objective on CI Financial from C$25.00 to C$26.00 in a research report on Friday, November 15th. BMO Capital Markets raised their price target on CI Financial from C$22.00 to C$25.00 in a research note on Friday, November 15th. Keefe, Bruyette & Woods downgraded CI Financial from an “outperform” rating to a “market perform” rating and increased their price objective for the stock from C$28.00 to C$31.50 in a report on Tuesday. Finally, Jefferies Financial Group lifted their target price on shares of 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of C$27.94.

CI Financial Stock Up 0.3 %

The company has a current ratio of 0.34, a quick ratio of 0.17 and a debt-to-equity ratio of 577.47. The firm’s fifty day moving average is C$21.63 and its 200 day moving average is C$17.70. The stock has a market cap of C$4.39 billion, a P/E ratio of -115.19, 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.