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

CI Financial (TSE:CIX) had its price objective upped by equities research analysts at Raymond James from C$22.00 to C$27.00 in a research note issued on Friday,BayStreet.CA reports. Raymond James’ price objective indicates a potential upside of 12.13% from the stock’s current price.

Other equities analysts have also issued reports about the company. Scotiabank increased their price objective on CI Financial from C$25.00 to C$26.00 in a report on Friday. TD Securities lifted their price objective on CI Financial from C$26.00 to C$28.00 and gave the stock a “buy” rating in a report on Friday. Finally, Jefferies Financial Group increased 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 research report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$23.63.

CI Financial Stock Performance

Shares of CIX stock opened at C$24.08 on Friday. The company has a debt-to-equity ratio of 577.47, a quick ratio of 0.17 and a current ratio of 0.34. The firm has a market cap of C$3.40 billion, a price-to-earnings ratio of -89.19, a P/E/G ratio of 0.04 and a beta of 1.67. CI Financial has a 52 week low of C$13.59 and a 52 week high of C$24.95. The firm’s 50-day simple moving average is C$20.41 and its two-hundred day simple moving average is C$17.25.

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.