IGM Financial (IGM), the Financial sector company, was revisited by a Wall Street analyst on May 3. The company received a Hold on May 3 from RBC Capital’s analyst Geoffrey Kwan, with a C$40 price target.
According to TipRanks.com, Kwan is a 3-star analyst with an average return of 2.5% and a 44.7% success rate. Kwan covers the Financial sector, focusing on stocks such as Element Financial, CI Financial Corp, and IGM Financial.
The word on The Street in general, suggests a Hold analyst consensus rating for IGM Financial with a C$37.93 average price target, implying a 4.1% upside from current levels. In a report issued on April 23, Desjardins also reiterated a Hold rating on the stock with a C$38 price target.
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Based on IGM Financial’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of C$170 million. In comparison, last year the company had a net profit of C$188 million.
IGM Financial, Inc. operates as a financial services company, which engages in the management and distribution of mutual funds and other managed asset products. It operates through the following segments: Investors Group, Mackenzie Investments, and Corporate & Other.
The company’s shares closed on Tuesday at C$36.43.
