Canaccord Genuity Maintains a Buy Rating on CI Financial (CIFAF)

Canaccord Genuity analyst Scott Chan CFA maintained a Buy rating on CI Financial (CIFAFResearch Report) on August 6 and set a price target of C$23.50.

According to TipRanks.com, CFA is a 4-star analyst with an average return of 5.5% and a 52.9% success rate. CFA covers the Financial sector, focusing on stocks such as Canadian Bank of Commerce, National Bank of Canada, and Toronto Dominion Bank.

Currently, the analyst consensus on CI Financial is a Moderate Buy with an average price target of $15.74, which is a 19.6% upside from current levels. In a report issued on February 18, BMO Capital also maintained a Buy rating on the stock with a C$28.00 price target.

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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 5,526.

Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is neutral on the stock.

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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.