CI Financial (CIX) Receives a Sell from RBC Capital

By Ryan Adsit

Shares of CI Financial (TSX: CIX) were revisited by a Wall Street analyst on October 25. Analyst Geoffrey Kwan from RBC Capital rated CI Financial (TSX: CIX) a Sell on October 25, setting a C$19 price target.

Kwan has an average return of 12.4% when recommending CI Financial.

According to TipRanks.com, Kwan is ranked #1920 out of 4874 analysts.

The word on The Street in general, suggests a Hold analyst consensus rating for CI Financial with a C$23.38 average price target.

CI Financial’s market cap is currently C$4.9B and has a P/E ratio of 8.5. The company has a Price to Book ratio of 2.84.

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 Monday at C$18.93, close to its 52-week low of C$18.38.