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

CI Financial (TSE:CIX) had its price objective raised by investment analysts at Scotiabank from C$25.00 to C$26.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. Scotiabank’s price objective would suggest a potential upside of 8.11% from the company’s previous close.

CIX has been the subject of a number of other research reports. Jefferies Financial Group increased their price target on CI Financial from C$20.00 to C$27.00 and gave the company a “buy” rating in a research report on Friday, November 1st. TD Securities increased their price objective on CI Financial from C$26.00 to C$28.00 and gave the stock a “buy” rating in a research note on Friday. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, CI Financial presently has an average rating of “Moderate Buy” and a consensus target price of C$23.63.

CI Financial Trading Down 1.9 %

Shares of TSE:CIX traded down C$0.47 during midday trading on Friday, reaching C$24.05. The company had a trading volume of 204,884 shares, compared to its average volume of 421,847. The company has a debt-to-equity ratio of 577.47, a quick ratio of 0.17 and a current ratio of 0.34. CI Financial has a 1-year low of C$13.59 and a 1-year high of C$24.95. The firm has a market cap of C$3.40 billion, a price-to-earnings ratio of -89.07, a price-to-earnings-growth ratio of 0.04 and a beta of 1.67. The company has a fifty day simple moving average of C$20.28 and a two-hundred day simple moving average of C$17.19.

About CI Financial

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.