In a new note to investors today, an analyst has provided a rating update for CI Financial (CIX). Analyst Scott Chan CFA from Canaccord Genuity remains bullish on the stock and has a C$22 price target.
According to TipRanks.com, CFA is ranked 0 out of 5 stars with an average return of -3.6% and a 34.5% success rate. CFA covers the Financial sector, focusing on stocks such as Canadian Bank of Commerce, Manulife Financial Corp, and National Bank of Canada.
The word on The Street in general, suggests a Hold analyst consensus rating for CI Financial with a C$19.80 average price target.
CI Financial’s market cap is currently C$4.55B and has a P/E ratio of 8.4. The company has a Price to Book ratio of 3.17.
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 Wednesday at C$17.41, close to its 52-week low of C$16.47.
