Desjardins Downgrades IGM Financial to Hold

In a latest note to investors, a research analyst has provided a rating update for the Financial sector company, IGM Financial (TSX: IGM). Gary Ho, an analyst with Desjardins, has downgraded their rating on IGM to Hold on April 22 , with a C$39 price target.

According to TipRanks.com, Ho is ranked #1638 out of 4562 analysts.

Currently, the analyst consensus on IGM Financial is Hold and the average price target is C$41.67, representing a 5.1% upside.

In a report issued on April 18, Scotiabank also maintained a Hold rating on the stock with a C$38 price target.

The company has a one year high of C$42.25 and a one year low of C$34.58. Currently, IGM Financial has an average volume of 240K.

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, and Corporate and Other. The Investors Group segment provides financial advisory services for investments, retirement, mortgage, estate planning, tax planning, and insurance. The Mackenzi segment offers funds products, private wealth solutions, managed assets, group plans, tax and estate planning, payout service, and dollar cost averaging. The Corporate and Other segment includes net investment income that are not allocated to other segments, proportionate share of earnings of Great-West Lifeco Inc., operating results for Investment Planning Counsel Inc., and consolidation elimination entries. The company was founded on August 3, 1978 and is headquartered in Winnipeg, Canada.