Barclays Sticks to Their Hold Rating for CI Financial (CIX)

By Ryan Adsit

CI Financial (TSX: CIX), the Financial sector company was revisited on August 10, yet the Wall Street analyst remains currently on the sidelines. Analyst John Aiken from Barclays remains neutral on the stock and has a C$24 price target.

According to TipRanks.com, Aiken is ranked #4570 out of 4848 analysts.

CI Financial has an analyst consensus of Hold, with a price target consensus of C$24.57, implying a 15.0% upside from current levels. In a report issued on July 27, Desjardins also reiterated a Hold rating on the stock with a C$25 price target.

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CI Financial’s market cap is currently C$5.69B and has a P/E ratio of 10.8. The company has a Price to Book ratio of 3.13.

CI Financial Corp. engages in the business of management, marketing, distribution, and administration of investment funds. It operates in the Asset Management and Asset Administration segments. The Asset Management segment includes fees earned on the management of mutual, segregated, pooled and closed-end funds, structured products and discretionary accounts.

The company’s shares closed on Friday at C$21.36, close to its 52-week low of C$21.10.