Scotia Forecasts Strong Price Appreciation for IGM Financial (TSE:IGM) Stock

Key Points

• Scotia raised its price target on IGM Financial from C$88 to C$90, maintaining a “sector perform” rating; the target implies 4.58% upside from the prior close.
• Analyst sentiment is broadly positive: five analysts rate the stock Buy and four Hold, producing a “Moderate Buy” consensus and an average target of C$89.44. National Bank Financial and Desjardins also recently raised their targets to C$94.
• IGM shares rose 5.7% to C$86.06 in Monday trading. The company reported quarterly EPS of C$1.51 and revenue of C$1.32 billion.

IGM Financial (TSE:IGM - Get Free Report) had its price target boosted by research analysts at Scotia from C$88.00 to C$90.00 in a report released on Monday, BayStreet reports. The firm presently has a "sector perform" rating on the financial services provider's stock. Scotia's target price indicates a potential upside of 4.58% from the stock's previous close.

Several other research firms also recently weighed in on IGM. National Bank Financial boosted their price target on shares of IGM Financial from C$92.00 to C$94.00 and gave the stock an "outperform" rating in a research note on Monday. BMO Capital Markets raised IGM Financial from a "hold" rating to an "outperform" rating and raised their price objective for the company from C$83.00 to C$96.00 in a research note on Thursday, October 22nd. TD raised their price objective on IGM Financial from C$92.00 to C$94.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Scotiabank lifted their price objective on IGM Financial from C$84.00 to C$87.00 and gave the stock a "sector perform" rating in a report on Thursday, July 30th. Finally, Desjardins boosted their target price on IGM Financial from C$93.00 to C$94.00 and gave the company a "buy" rating in a research note on Monday. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of C$89.44.

IGM Financial Trading Up 5.7%

Shares of IGM traded up C$4.67 during mid-day trading on Monday, reaching C$86.06. The company's stock had a trading volume of 240,227 shares, compared to its average volume of 445,643. The stock has a market cap of C$19.67 billion, a PE ratio of 17.42, a P/E/G ratio of 4.09 and a beta of 0.67. The company has a current ratio of 1.28, a quick ratio of 0.31 and a debt-to-equity ratio of 82.59. IGM Financial has a 52 week low of C$54.42 and a 52 week high of C$92.01. The company's fifty day moving average price is C$84.01 and its two-hundred day moving average price is C$77.58.

IGM Financial (TSE:IGM - Get Free Report) last announced its quarterly earnings data on Thursday, November 5th. The financial services provider reported C$1.51 earnings per share (EPS) for the quarter. IGM Financial had a net margin of 29.82% and a return on equity of 12.91%. The company had revenue of C$1.32 billion during the quarter. On average, analysts predict that IGM Financial will post 4.01 earnings per share for the current fiscal year.

Insider Activity at IGM Financial

In related news, Director J. Luke Gould sold 6,900 shares of IGM Financial stock in a transaction on Friday, September 18th. The shares were sold at an average price of C$87.97, for a total value of C$606,993.00. Insiders have sold 9,960 shares of company stock valued at $876,221 over the last quarter. 66.58% of the stock is owned by insiders.

About IGM Financial

Mackenzie Investments ("Mackenzie") is a Canadian investment management firm with approximately $244 billion (CAD) in assets under management as of December 31, 2025. Mackenzie seeks to create a more invested world by delivering strong investment performance and offering innovative portfolio solutions and related services to more than one million retail and institutional clients through multiple distribution channels. Founded in 1967, it is a global asset manager with offices across Canada as well as in Beijing, Boston, Dublin, Hong Kong and London.

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