IGM Financial (IGM) Price Target Cut to C$48.00 by Analysts at Desjardins

IGM Financial (TSE:IGM) had its price objective reduced by Desjardins from C$50.00 to C$48.00 in a note issued to investors on Monday. Desjardins’ price objective suggests a potential upside of 19.20% from the company’s previous close.

A number of other equities analysts have also recently commented on the company. TD Securities raised IGM Financial from a “hold” rating to a “buy” rating and boosted their price target for the stock from C$48.00 to C$52.00 in a report on Monday, November 6th. BMO Capital Markets reissued an “outperform” rating and set a C$48.00 price target on shares of IGM Financial in a report on Monday, November 6th. Scotiabank reissued an “outperform” rating and set a C$50.00 price target on shares of IGM Financial in a report on Tuesday, December 12th. CIBC lowered their target price on IGM Financial from C$48.00 to C$45.00 in a report on Monday, November 6th. Finally, Barclays upped their target price on IGM Financial from C$41.00 to C$44.00 in a report on Monday, October 30th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of C$47.13.

IGM Financial (TSE IGM) traded down C$0.18 during trading on Monday, hitting C$40.27. The stock had a trading volume of 252,689 shares, compared to its average volume of 252,278. IGM Financial has a 12 month low of C$38.56 and a 12 month high of C$45.82. The firm has a market cap of $9,730.00, a PE ratio of 12.35 and a beta of 0.93.

In other news, Director Jean-Claude Bachand bought 1,000 shares of the stock in a transaction on Tuesday, December 5th. The stock was acquired at an average price of C$44.35 per share, with a total value of C$44,350.00.

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About IGM Financial

IGM Financial Inc is a Canada-based financial services company. The Company’s principal businesses are Investors Group Inc and Mackenzie Financial Corporation, which operate within the advice segment of the financial services market. It operates in three segments: Investors Group, Mackenzie Investments, and Corporate and Other.

Analyst Recommendations for IGM Financial (TSE:IGM)

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