CI Financial (OTCMKTS:CIFAF) had its price target boosted by research analysts at Scotiabank from $16.00 to $17.00 in a research note issued on Monday, The Fly reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s target price indicates a potential upside of 37.35% from the stock’s current price.
A number of other analysts also recently issued reports on the stock. TD Securities upgraded shares of CI Financial from a “hold” rating to a “buy” rating in a report on Thursday, May 7th. Canaccord Genuity raised their price target on shares of CI Financial from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Finally, Royal Bank of Canada raised their price target on shares of CI Financial from $16.00 to $17.00 and gave the stock a “sector perform” rating in a report on Thursday, May 7th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $19.50.
CIFAF stock opened at $12.38 on Monday. The firm has a 50-day moving average of $11.69 and a two-hundred day moving average of $13.67. CI Financial has a 12 month low of $7.50 and a 12 month high of $19.22.
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.
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