RBC Capital Sticks to Its Hold Rating for CI Financial (CIFAF)

By Carrie Williams

In a report released today, Geoffrey Kwan from RBC Capital maintained a Hold rating on CI Financial (CIFAFResearch Report), with a price target of C$16.00. The company’s shares closed last Monday at $10.09.

According to TipRanks.com, Kwan is a 1-star analyst with an average return of -1.9% and a 39.0% success rate. Kwan covers the Financial sector, focusing on stocks such as Element Financial, Equitable Group, and IGM Financial.

CI Financial has an analyst consensus of Moderate Buy, with a price target consensus of $14.91.

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The company has a one-year high of $19.22 and a one-year low of $7.50. Currently, CI Financial has an average volume of 2,235.

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CI Financial Corp. engages in the business of management, marketing, distribution, and administration of investment funds. It operates through 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 Asset Administration segment involves commissions and fees earned on the sale of mutual funds and other financial products and ongoing service to clients. It offers services through brokers, independent financial planners, and insurance advisors. The company was founded in 1965 and is headquartered in Toronto, Canada.