IGM Financial (TSE:IGM) Price Target Raised to C$57.00

Key Points

• Scotiabank has raised the target price for IGM Financial from C$56.00 to C$57.00, indicating a potential upside of 20.97% from its previous close.
• A consensus rating of "Hold" has been established for IGM Financial, with analysts setting price targets ranging from C$46.00 to C$57.00.
• IGM Financial is Canada’s largest non-bank-affiliated asset manager, operating through divisions that provide investment management and wealth management services.

IGM Financial (TSE:IGM - Get Free Report) had its target price hoisted by Scotiabank from C$56.00 to C$57.00 in a note issued to investors on Thursday,BayStreet.CA reports. The firm currently has a "sector perform" rating on the financial services provider's stock. Scotiabank's target price would suggest a potential upside of 20.97% from the stock's previous close.

A number of other equities analysts have also recently weighed in on IGM. Royal Bank Of Canada raised shares of IGM Financial to a "hold" rating and set a C$46.00 price target on the stock in a research report on Wednesday, June 18th. Jefferies Financial Group increased their price objective on IGM Financial from C$42.00 to C$46.00 in a report on Wednesday, July 30th. National Bankshares boosted their price target on IGM Financial from C$54.00 to C$56.00 and gave the stock an "outperform" rating in a report on Tuesday, July 29th. Finally, BMO Capital Markets reduced their price target on IGM Financial from C$47.00 to C$46.00 in a research report on Monday, May 12th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of C$51.00.

IGM Financial Stock Performance

IGM Financial stock traded up C$0.76 during midday trading on Thursday, reaching C$47.12. 225,185 shares of the stock traded hands, compared to its average volume of 305,897. The company has a current ratio of 3.61, a quick ratio of 0.31 and a debt-to-equity ratio of 97.24. IGM Financial has a fifty-two week low of C$35.33 and a fifty-two week high of C$48.24. The firm has a market cap of C$11.24 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 4.09 and a beta of 1.53. The firm has a fifty day moving average price of C$43.99 and a two-hundred day moving average price of C$44.02.

IGM Financial Company Profile

IGM Financial is the largest non-bank-affiliated asset manager in Canada. The firm is part of the Power Financial group of companies, which includes Great-West Life, London Life, Canada Life, and Putnam Investments. IGM has two main operating divisionsasset management (operated through Mackenzie Investments) and wealth management (via its Investors Group Wealth Management and Investment Planning Counsel subsidiaries)that provide investment management products and services.

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