Bank of America Increases CI Financial Corp Price Target to C$40.00 (CIX)

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Equities research analysts at Bank of America upped their price objective on shares of CI Financial Corp (TSE:CIX) from C$37.00 to C$40.00 in a research note issued to investors on Thursday, Analyst Ratings Net reports. The firm currently has an “overweight” rating on the stock. Bank of America’s price target would indicate a potential upside of 9.29% from the stock’s previous close.

CI Financial Corp (TSE:CIX) traded down 0.52% on Thursday, hitting $36.60. 141,576 shares of the company’s stock traded hands. CI Financial Corp has a 1-year low of $29.29 and a 1-year high of $36.82. The stock’s 50-day moving average is $35.12 and its 200-day moving average is $34.76. The company has a market cap of $10.419 billion and a P/E ratio of 24.53.

CI Financial Corp (TSE:CIX) last announced its earnings results on Thursday, May 8th. The company reported $0.43 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.43. On average, analysts predict that CI Financial Corp will post $1.87 earnings per share for the current fiscal year.

The company also recently announced a may 14 dividend, which is scheduled for Friday, June 13th. Investors of record on Saturday, May 31st will be paid a dividend of $0.10 per share.

Several other analysts have also recently commented on the stock. Analysts at RBC Capital raised their price target on shares of CI Financial Corp from C$39.00 to C$40.00 in a research note on Thursday. They now have a “sector perform” rating on the stock. Separately, analysts at GMP Securities raised their price target on shares of CI Financial Corp from C$38.00 to C$39.75 in a research note on Thursday. They now have a “buy” rating on the stock. Finally, analysts at Scotiabank raised their price target on shares of CI Financial Corp from C$37.00 to C$39.00 in a research note on Thursday. They now have a “sector perform” rating on the stock. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. CI Financial Corp has an average rating of “Buy” and an average target price of C$40.10.

CI Financial Corp. (TSE:CIX) is a diversified wealth management and investment fund company.

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