A Wall Street analyst has provided a review for the Financial company on April 23, but retained the same rating on the stock. IGM Financial (IGM) received a Hold on April 23 from Canaccord Genuity’s analyst Scott Chan CFA, with a C$34.50 price target.
According to TipRanks.com, CFA is a 1-star analyst with an average return of -0.3% and a 50.8% success rate. CFA covers the Financial sector, focusing on stocks such as Canadian Bank of Commerce, Manulife Financial Corp, and Canadian Western Bank.
Currently, the analyst consensus on IGM Financial is a Moderate Buy with an average price target of C$38.92, which is a 5.2% upside from current levels. In a report issued on April 8, Scotiabank also downgraded the stock to Hold with a C$37 price target.
.
Based on IGM Financial’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of C$182 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 Thursday at C$37.
