Raymond James Forecasts Strong Price Appreciation for CI Financial (TSE:CIX) Stock

CI Financial (TSE:CIX) had its target price upped by Raymond James from C$22.00 to C$27.00 in a report released on Friday,BayStreet.CA reports.

Other equities research analysts have also issued research reports about the stock. TD Securities raised their price target on shares of CI Financial from C$26.00 to C$28.00 and gave the company a “buy” rating in a research note on Friday. Scotiabank raised their price target on shares of CI Financial from C$25.00 to C$26.00 in a research note on Friday. Finally, Jefferies Financial Group raised their price target on shares of CI Financial from C$20.00 to C$27.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$23.63.

CI Financial Stock Performance

CIX traded down C$0.44 on Friday, hitting C$24.08. 422,000 shares of the company’s stock were exchanged, compared to its average volume of 422,825. The firm has a market cap of C$3.40 billion, a PE ratio of -89.19, a P/E/G ratio of 0.04 and a beta of 1.67. CI Financial has a twelve month low of C$13.59 and a twelve month high of C$24.95. The stock has a fifty day moving average of C$20.41 and a two-hundred day moving average of C$17.24. The company has a current ratio of 0.34, a quick ratio of 0.17 and a debt-to-equity ratio of 577.47.

CI Financial Company Profile

CI Financial Corp. is a publicly owned asset management holding company. Through its subsidiaries, the firm manages separate client focused equity, fixed income, and alternative investments portfolios. It also manages mutual funds, hedge funds, and fund of funds for its clients through its subsidiaries.