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

CI Financial (TSE:CIX) had its price target raised by analysts at Scotiabank from C$25.00 to C$26.00 in a report released on Friday,BayStreet.CA reports. Scotiabank’s target price suggests a potential upside of 8.11% from the stock’s current price.

CIX has been the topic of a number of other reports. Jefferies Financial Group raised their price objective on 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 raised their price objective 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 assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$23.63.

CI Financial Stock Performance

Shares of CIX stock traded down C$0.47 during trading on Friday, reaching C$24.05. The company had a trading volume of 204,884 shares, compared to its average volume of 421,847. The firm’s 50 day simple moving average is C$20.28 and its two-hundred day simple moving average is C$17.19. The company has a debt-to-equity ratio of 577.47, a current ratio of 0.34 and a quick ratio of 0.17. CI Financial has a one year low of C$13.59 and a one year high of C$24.95. The company has a market capitalization of C$3.40 billion, a PE ratio of -89.07, a PEG ratio of 0.04 and a beta of 1.67.

CI Financial Company Profile

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.