Scotiabank Forecasts Strong Price Appreciation for CI Financial (TSE:CIX) Stock

CI Financial (TSE:CIX) had its price objective upped by stock analysts at Scotiabank from C$25.00 to C$26.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. Scotiabank’s price objective points to a potential upside of 7.97% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. Jefferies Financial Group upped 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. TD Securities boosted their price target on shares of CI Financial from C$26.00 to C$28.00 and gave the company a “buy” rating in a report on Friday. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$23.63.

CI Financial Stock Down 1.8 %

Shares of CI Financial stock opened at C$24.08 on Friday. The business has a fifty day simple moving average of C$20.41 and a 200 day simple moving average of C$17.25. The stock has a market cap of C$3.40 billion, a PE ratio of -89.19, a price-to-earnings-growth ratio of 0.04 and a beta of 1.67. The company has a quick ratio of 0.17, a current ratio of 0.34 and a debt-to-equity ratio of 577.47. CI Financial has a 12 month low of C$13.59 and a 12 month high of C$24.95.

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.