TD Securities Thinks IGM Financial’s Stock is Going to Recover

By Carrie Williams

IGM Financial (TSX: IGM), the Financial sector company, has received a rating update from a Wall Street analyst on October 30. On October 30, analyst Graham Ryding gave a Buy rating to IGM and set a C$40 price target.

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

IGM Financial has an analyst consensus of Moderate Buy, with a price target consensus of C$39, a 20.6% upside from current levels. In a report issued on October 30, CIBC also maintained a Buy rating on the stock with a C$39 price target.

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The company has a one-year high of C$45.69 and a one-year low of C$31.54. Currently, IGM Financial has an average volume of 234.9K.

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 Wednesday at C$32.33, close to its 52-week low of C$31.54.