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CI Financial (CIX) Gets a Hold Rating from TD Securities


Today, an analyst has provided a rating update for CI Financial (CIX). Analyst Graham Ryding from TD Securities rated CI Financial (CIX) a Hold, setting a C$21 price target.

According to TipRanks.com, Ryding is a 4-star analyst with an average return of 9.9% and a 67.1% success rate. Ryding covers the Financial sector, focusing on stocks such as Canaccord Genuity, IGM Financial, and Sprott Inc.

CI Financial has an analyst consensus of Hold, with a price target consensus of C$21.75, implying an 8.1% upside from current levels. In a report issued on October 26, Barclays also maintained a Hold rating on the stock with a C$21 price target.

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CI Financial’s market cap is currently C$5.13B and has a P/E ratio of 8.9. The company has a Price to Book ratio of 2.95.

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 Friday at C$20.12, close to its 52-week low of C$18.38.