IGM Financial (IGM) Price Target Lowered to C$50.00 at Royal Bank of Canada

IGM Financial (TSE:IGM) had its target price lowered by equities researchers at Royal Bank of Canada from C$54.00 to C$50.00 in a research report issued to clients and investors on Monday. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 24.50% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Barclays cut their price objective on IGM Financial from C$44.00 to C$43.00 in a research report on Monday, November 6th. CIBC cut their price objective on IGM Financial from C$48.00 to C$45.00 in a research report on Monday, November 6th. Desjardins increased their price objective on IGM Financial from C$48.00 to C$50.00 in a research report on Tuesday, October 31st. TD Securities upgraded IGM Financial from a “hold” rating to a “buy” rating and increased their price objective for the company from C$48.00 to C$52.00 in a research report on Monday, November 6th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a C$48.00 price objective on shares of IGM Financial in a research report on Monday, November 6th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of C$47.13.

Shares of IGM Financial (IGM) traded down C$0.29 during trading hours on Monday, hitting C$40.16. The stock had a trading volume of 284,729 shares, compared to its average volume of 253,006. IGM Financial has a one year low of C$38.56 and a one year high of C$45.82. The firm has a market cap of $9,730.00, a P/E ratio of 12.36 and a beta of 0.93.

In other news, Director Jean-Claude Bachand bought 1,000 shares of the business’s stock in a transaction on Tuesday, December 5th. The shares were bought at an average cost 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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