CIBC Remains a Buy on IGM Financial

By Ryan Adsit

The Financial sector company, IGM Financial (TSX: IGM), has received a rating update from a Wall Street analyst yesterday. Analyst Paul Holden from CIBC rated IGM Financial (TSX: IGM) a Buy, setting a C$48 price target.

Holden has an average return of 6.2% when recommending IGM Financial.

According to TipRanks.com, Holden is ranked #1698 out of 4842 analysts.

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Currently, the analyst consensus on IGM Financial is a Strong Buy with an average price target of C$47.17.

IGM Financial’s market cap is currently C$9.31B and has a P/E ratio of 15.3. The company has a Price to Book ratio of 2.17.

IGM Financial, Inc. engages in the management and distribution of mutual funds and other managed asset products. It operates through the following segments: Investors Group, Mackenzie Investments, and Corporate and Other.

The company’s shares closed on Thursday at C$38.67.