CI Financial (TSX: CIX), the Financial sector company, has received a rating update from a Wall Street analyst on August 10. TD Securities’ analyst Graham Ryding reiterates their Hold rating on the shares, with a C$24 price target.
According to TipRanks.com, Ryding is ranked #665 out of 4848 analysts.
The word on The Street in general, suggests a Hold analyst consensus rating for CI Financial with a C$24.43 average price target, which is a 14.4% upside from current levels. In a report issued on August 10, Barclays also maintained a Hold rating on the stock with a C$24 price target.
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Based on CI Financial’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of C$159 million. In comparison, last year the company had a net profit of C$96.32 million.
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$21.36, close to its 52-week low of C$21.10.
