In a latest note to investors, a research analyst has provided a rating update for the CI Financial (CIX). The company received a Buy on January 31 from BMO Capital’s analyst Tom Mackinnon, with a C$22 price target.
According to TipRanks.com, Mackinnon is a 4-star analyst with an average return of 4.4% and a 57.9% success rate. Mackinnon covers the Financial sector, focusing on stocks such as Manulife Financial Corp, Sun Life Financial, and IGM Financial.
Currently, the analyst consensus on CI Financial is a Hold with an average price target of C$20.14, implying a 13.7% upside from current levels. In a report issued on January 30, Canaccord Genuity also maintained a Buy rating on the stock with a C$22 price target.
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The company has a one-year high of C$29.11 and a one-year low of C$16.47. Currently, CI Financial has an average volume of 765.6K.
CI Financial Corp. engages in the business of management, marketing, distribution, and administration of investment funds. It operates in the Asset Management and Asset Administration segments. The Asset Management segment includes fees earned on the management of mutual, segregated, pooled and closed-end funds, structured products and discretionary accounts.
The company’s shares closed on Monday at C$17.71, close to its 52-week low of C$16.47.
