Raymond James Increases CI Financial (TSE:CIX) Price Target to C$32.00

CI Financial (TSE:CIX) had its target price lifted by research analysts at Raymond James from C$27.00 to C$32.00 in a report released on Tuesday,BayStreet.CA reports. Raymond James’ price target points to a potential upside of 2.60% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. TD Securities cut shares of CI Financial from a “buy” rating to a “sell” rating and increased their price objective for the company from C$28.00 to C$32.00 in a report on Tuesday. Jefferies Financial Group raised their target price on shares of CI Financial from C$20.00 to C$27.00 and gave the stock a “buy” rating in a report on Friday, November 1st. BMO Capital Markets raised their target price on shares of CI Financial from C$22.00 to C$25.00 in a report on Friday, November 15th. Keefe, Bruyette & Woods raised their target price on shares of CI Financial from C$21.00 to C$28.00 in a report on Monday, November 18th. Finally, Scotiabank raised their target price on shares of CI Financial from C$25.00 to C$26.00 in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of C$27.94.

CI Financial Stock Performance

TSE CIX traded down C$0.03 on Tuesday, hitting C$31.19. The stock had a trading volume of 2,177,678 shares, compared to its average volume of 448,694. The company’s 50-day moving average is C$21.36 and its two-hundred day moving average is C$17.60. The company has a quick ratio of 0.17, a current ratio of 0.34 and a debt-to-equity ratio of 577.47. The stock has a market cap of C$4.41 billion, a price-to-earnings ratio of -115.44, a P/E/G ratio of 0.04 and a beta of 1.67. CI Financial has a one year low of C$13.59 and a one year high of C$31.41.

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.