CIBC Issues Positive Forecast for CI Financial (TSE:CIX) Stock Price

CI Financial (TSE:CIX) had its price objective lifted by CIBC from C$23.00 to C$32.00 in a research report released on Tuesday,BayStreet.CA reports.

Several other equities research analysts have also issued reports on the stock. Jefferies Financial Group lifted their price target 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. TD Securities cut shares of CI Financial from a “buy” rating to a “sell” rating and boosted their target price for the stock from C$28.00 to C$32.00 in a research note on Tuesday. Raymond James upped their price target on shares of CI Financial from C$27.00 to C$32.00 in a report on Tuesday. Keefe, Bruyette & Woods downgraded CI Financial from an “outperform” rating to a “market perform” rating and raised their price objective for the company from C$28.00 to C$31.50 in a report on Tuesday. Finally, Scotiabank upped their target price on CI Financial from C$25.00 to C$26.00 in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, CI Financial has a consensus rating of “Hold” and a consensus price target of C$27.94.

CI Financial Stock Performance

CI Financial stock opened at C$31.05 on Tuesday. The company has a quick ratio of 0.17, a current ratio of 0.34 and a debt-to-equity ratio of 577.47. The stock has a market cap of C$4.39 billion, a PE ratio of -115.00, a P/E/G ratio of 0.04 and a beta of 1.67. CI Financial has a 12-month low of C$13.87 and a 12-month high of C$31.41. The business’s 50-day moving average price is C$22.17 and its two-hundred day moving average price is C$17.90.

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.