Scotiabank Increases CI Financial (OTCMKTS:CIFAF) Price Target to $17.00

CI Financial (OTCMKTS:CIFAF) had its target price increased by stock analysts at Scotiabank from $16.00 to $17.00 in a research note issued on Monday, The Fly reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s price target would indicate a potential upside of 37.35% from the company’s previous close.

A number of other analysts have also weighed in on the company. Canaccord Genuity upped their target price on CI Financial from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. TD Securities upgraded CI Financial from a “hold” rating to a “buy” rating in a report on Thursday, May 7th. Finally, Royal Bank of Canada upped their target price on 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 equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $19.50.

Shares of OTCMKTS CIFAF opened at $12.38 on Monday. The stock has a 50 day moving average price of $11.69 and a 200 day moving average price of $13.67. CI Financial has a 52-week low of $7.50 and a 52-week high of $19.22.

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.

Further Reading: FinTech

The Fly

Analyst Recommendations for CI Financial (OTCMKTS:CIFAF)

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.