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

CI Financial (TSE:CIX) had its price objective upped by research analysts at BMO Capital Markets from C$22.00 to C$25.00 in a research report issued on Friday,BayStreet.CA reports. BMO Capital Markets’ target price would suggest a potential upside of 3.82% from the company’s previous close.

Several other research firms have also recently weighed in on CIX. Raymond James lifted their price target on shares of CI Financial from C$22.00 to C$27.00 in a report on Friday. Scotiabank raised their price objective on shares of CI Financial from C$25.00 to C$26.00 in a report on Friday. Jefferies Financial Group upped 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. Finally, TD Securities raised their target price on CI Financial from C$26.00 to C$28.00 and gave the company a “buy” rating in a research note on Friday. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$23.63.

CI Financial Trading Down 1.8 %

TSE CIX opened at C$24.08 on Friday. The stock has a market cap of C$3.40 billion, a P/E ratio of -89.19, a price-to-earnings-growth ratio of 0.04 and a beta of 1.67. CI Financial has a fifty-two week low of C$13.59 and a fifty-two week high of C$24.95. The stock has a 50 day simple moving average of C$20.41 and a two-hundred day simple moving average of C$17.25. 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.