Desjardins Keeps a Hold Rating on CI Financial

By Ryan Adsit

Wall Street analyst has provided a review for the Financial company today, but retained the same rating on the stock. Analyst Douglas Young from Desjardins reiterated a Hold rating on CI Financial (TSX: CIX), with a C$30 price target.

According to TipRanks.com, Young is ranked #483 out of 4743 analysts.

CI Financial has an analyst consensus of Moderate Buy, with a price target consensus of C$31.

Based on CI Financial’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of C$504 million and quarterly net profit of C$141 million. In comparison, last year the company earned revenue of C$506 million and had a net profit of C$121 million.

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 company’s shares closed on Friday at C$29.05.