TD Securities Thinks AGF Management B NV’s Stock is Going to Recover

By Carrie Williams

A Wall Street analyst has provided a review for the Financial company yesterday, but retained the same rating on the stock. Analyst Graham Ryding from TD Securities rated AGF Management B NV (TSX: AGF.B) a Buy, setting a C$8 price target.

According to TipRanks.com, Ryding is ranked #660 out of 4887 analysts.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for AGF Management B NV with a C$7.21 average price target, a 33.8% upside from current levels. In a report issued on October 24, Desjardins also reiterated a Buy rating on the stock with a C$8 price target.

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Based on AGF Management B NV’s latest earnings release for the quarter ending August 31, the company reported a quarterly net profit of C$20.67 million. In comparison, last year the company had a net profit of C$12.33 million.

AGF Management Ltd. is a diversified global asset management firm, which engages in the retail, institutional, and alternative businesses. The firm provides investment management with operations and investments in North America, Europe, and Asia. Its products include a diversified mutual funds, mutual fund wrap programs, and pooled funds.

The company’s shares closed on Wednesday at C$5.39, close to its 52-week low of C$5.10.