CI Financial (TSE:CIX) Price Target Raised to C$27.00 at Raymond James

CI Financial (TSE:CIX) had its price objective increased by research analysts at Raymond James from C$22.00 to C$27.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. Raymond James’ target price suggests a potential upside of 12.27% from the company’s current price.

Several other brokerages have also recently commented on CIX. Jefferies Financial Group boosted their price target on shares of CI Financial from C$20.00 to C$27.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. TD Securities boosted their price target on shares of CI Financial from C$26.00 to C$28.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Scotiabank boosted their price target on shares of CI Financial from C$25.00 to C$26.00 in a research note on Friday. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$23.63.

CI Financial Price Performance

Shares of CIX traded down C$0.47 during trading hours on Friday, reaching C$24.05. 204,884 shares of the stock traded hands, compared to its average volume of 421,847. 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 has a 52-week low of C$13.59 and a 52-week high of C$24.95. The company’s 50-day moving average price is C$20.28 and its two-hundred day moving average price is C$17.19. The company has a market cap of C$3.40 billion, a P/E ratio of -89.07, a price-to-earnings-growth ratio of 0.04 and a beta of 1.67.

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.