CI Financial (CIX) Upgraded to Outperform by BMO Capital Markets

CI Financial (TSE:CIX) was upgraded by BMO Capital Markets from a “market perform” rating to an “outperform” rating in a report released on Friday. The firm presently has a C$32.00 price objective on the stock, up from their previous price objective of C$31.00. BMO Capital Markets’ price target would indicate a potential upside of 13.07% from the stock’s current price.

CIX has been the subject of several other reports. Barclays decreased their target price on CI Financial from C$32.00 to C$31.00 in a research report on Monday, November 13th. Desjardins decreased their target price on CI Financial from C$30.00 to C$29.00 in a research report on Friday. CIBC lifted their target price on CI Financial from C$32.50 to C$33.00 in a research report on Monday, November 13th. TD Securities lifted their target price on CI Financial from C$29.00 to C$30.00 and gave the stock a “hold” rating in a research report on Friday, November 10th. Finally, Royal Bank of Canada decreased their target price on CI Financial from C$28.00 to C$26.00 and set an “underperform” rating for the company in a research report on Friday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of C$30.14.

Shares of CI Financial (TSE:CIX) opened at C$28.30 on Friday. CI Financial has a 52-week low of C$25.79 and a 52-week high of C$30.23. The firm has a market capitalization of $7,710.00, a price-to-earnings ratio of 14.59 and a beta of 0.48.

In other news, Director Neal A. Kerr sold 4,500 shares of the firm’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of C$30.12, for a total transaction of C$135,540.00. Also, Director Neal A. Kerr sold 3,800 shares of the firm’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of C$29.59, for a total value of C$112,442.00. In the last 90 days, insiders have sold 10,407 shares of company stock worth $309,678.

WARNING: This story was originally posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this story on another domain, it was illegally stolen and republished in violation of United States and international trademark & copyright law. The correct version of this story can be viewed at https://www.dispatchtribunal.com/2018/02/18/ci-financial-cix-upgraded-to-outperform-by-bmo-capital-markets.html.

CI Financial Company Profile

CI Financial Corp. (CI) is a wealth management and investment fund company. The Company is engaged in management, marketing, distribution and administration of mutual funds, segregated funds, exchange-traded funds, structured products and other fee-earning investment products for Canadian investors. CI operates through two segments: Asset Management and Asset Administration.

Analyst Recommendations for CI Financial (TSE:CIX)

Receive News & Ratings for CI Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CI Financial and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply