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

CI Financial (TSE:CIX) had its target price upped by stock analysts at Raymond James from C$22.00 to C$27.00 in a research note issued to investors on Friday,BayStreet.CA reports. Raymond James’ price objective indicates a potential upside of 12.13% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. Scotiabank raised their price objective on CI Financial from C$25.00 to C$26.00 in a research note on Friday. TD Securities upped their price objective on shares of CI Financial from C$26.00 to C$28.00 and gave the stock a “buy” rating in a report on Friday. Finally, Jefferies Financial Group lifted their price objective on shares of CI Financial from C$20.00 to C$27.00 and gave the company a “buy” rating in a report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$23.63.

CI Financial Price Performance

CIX stock opened at C$24.08 on Friday. CI Financial has a 1 year low of C$13.59 and a 1 year high of C$24.95. The stock has a market capitalization 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’s 50-day moving average is C$20.41 and its 200-day moving average is C$17.25. The company has a debt-to-equity ratio of 577.47, a current ratio of 0.34 and a quick ratio of 0.17.

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.