TD Securities Cuts IGM Financial (IGM) Price Target to C$50.00

IGM Financial (TSE:IGM) had its target price cut by investment analysts at TD Securities from C$52.00 to C$50.00 in a research note issued on Monday. TD Securities’ target price indicates a potential upside of 24.16% from the company’s current price.

Several other analysts have also recently commented on IGM. Barclays increased their target price on IGM Financial from C$41.00 to C$44.00 in a report on Monday, October 30th. Desjardins increased their target price on IGM Financial from C$48.00 to C$50.00 in a report on Tuesday, October 31st. BMO Capital Markets reiterated an “outperform” rating and issued a C$48.00 price target on shares of IGM Financial in a report on Monday, November 6th. Scotiabank raised their price target on IGM Financial from C$47.00 to C$49.00 and gave the company a “sector perform” rating in a report on Monday, November 6th. Finally, CIBC decreased their price target on IGM Financial from C$48.00 to C$45.00 in a report on Monday, November 6th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of C$47.13.

Shares of IGM Financial (TSE:IGM) traded down C$0.18 during mid-day 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. The company has a market capitalization of $9,730.00, a PE ratio of 12.35 and a beta of 0.93. IGM Financial has a 12 month low of C$38.56 and a 12 month high of C$45.82.

In other news, Director Jean-Claude Bachand purchased 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 5th. The shares were acquired at an average price of C$44.35 per share, for a total transaction 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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