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CI Financial Corp T.CIX

Alternate Symbol(s):  CIXXF

CI Financial Corp. is a diversified global asset and wealth management company operating primarily in Canada, the United States and Australia. The Company is engaged in the management and distribution of a range of financial products and services, including wealth management, insurance, and others. The Company operates through three segments: Asset Management, Canadian Wealth Management, and U.S. Wealth Management. The Asset Management segment includes CI Global Asset Management, which operates in Canada, and GSFM Pty Ltd., which operates in Australia. The Canadian Wealth Management segment includes the operations of CI Assante Wealth Management, Aligned Capital Partners, CI Private Wealth, Northwood Family Office, CI Direct Investing and CI Investment Services. The U.S. Wealth Management segment includes Corient Private Wealth LLC, an integrated wealth management company providing comprehensive solutions to ultra-high-net-worth and high-net-worth clients across the United States.


TSX:CIX - Post by User

Post by zack50on Feb 12, 2021 9:14am
136 Views
Post# 32550546

Just as I thought... a # of target raises for CIX!

Just as I thought... a # of target raises for CIX!Desjardins Securities analyst Gary Ho says that CI Financial Corp. (CIX-T) is “too cheap to ignore.”

Seeing “early signs of improvements” in the wake of stronger-than-expected fourth-quarter results, he raised his rating to “buy” from “hold,” citing a 25-per-cent potential return.

While it reported January net outflows, they were better than what we modelled, and positive industry momentum should benefit CI, in our view,” he said. “In addition, management disclosed intriguing U.S. RIA metrics, including 9-per-cent net organic growth and a 40-per-cent EBITDA margin (better than our forecast).”

His target for CI shares rose to $22 from $20. The average on the Street is $21.38.

“We are encouraged to see some signs of retail net redemptions stabilizing,” said Mr. Ho. “In addition, the U.S. RIA buildout has gained traction and we are comforted by the solid net organic growth rate as well as the healthy EBITDA margins this platform generates. Valuation remains attractive and CI’s NCIB program should support the shares.”

Elsewhere, RBC Dominion Securities’ Geoffrey Kwan upgraded CI Financial to “outperform” from “sector perform” with a $24 target, rising from $19

CIBC’s Nik Priebe moved his target to $20 from $18.50 with a “neutral” rating, while Canaccord Genuity’s Scott Chan raised his target to $25 from $24 with a “buy” rating.

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