CI Financial (CIX) Receives a Hold from Desjardins


Wall Street analyst has provided a rating update for the Financial sector company yesterday, while remaining neutral on the stock. CI Financial (TSX: CIX) received a Hold rating from Desjardins’ analyst Gary Ho, with a C$24 price target.

According to TipRanks.com, Ho is ranked #1807 out of 4850 analysts.

CI Financial has an analyst consensus of Hold, with a price target consensus of C$25.17, which is a 14.4% upside from current levels. In a report issued on July 27, Scotiabank also reiterated a Hold rating on the stock with a C$27 price target.

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CI Financial’s market cap is currently C$5.87B and has a P/E ratio of 11.6. The company has a Price to Book ratio of 3.22.

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 Thursday at C$22.01, close to its 52-week low of C$21.10.

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