Canaccord Genuity (CF) Gets a Buy Rating from TD Securities

By Ryan Adsit

Canaccord Genuity (CFResearch Report), the Financial sector company, has received a rating update from a Wall Street analyst today. TD Securities’ analyst Graham Ryding reiterates their Buy rating on the shares, with a C$8.50 price target.

According to TipRanks.com, Ryding is a 4-star analyst with an average return of 9.5% and a 67.5% success rate. Ryding covers the Financial sector, focusing on stocks such as Canaccord Genuity, IGM Financial, and Sprott Inc.

Canaccord Genuity has an analyst consensus of Moderate Buy, with a price target consensus of C$8.50.

Based on Canaccord Genuity’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of C$12.9 million. In comparison, last year the company had a GAAP net loss of C$7.49 million.

Canaccord Genuity Group, Inc. provides investment banking and brokerage services. It operates through the following segments: Canaccord Genuity, Canaccord Genuity Wealth Management, and Corporate and Other.

The company’s shares closed on Thursday at C$6.85.