TD Securities Issues Positive Forecast for IGM Financial (TSE:IGM) Stock Price

Key Points

• TD Securities has increased its price target for IGM Financial from C$55.00 to C$57.00, indicating a potential upside of 20.46% from the current price, while maintaining a "buy" rating.
• Other analysts have mixed ratings for IGM Financial, with some upgrading it to "hold" and others adjusting price targets downward, resulting in an average rating of "Hold" and a consensus price target of C$52.29.
• IGM Financial has a market cap of C$11.28 billion and represents the largest non-bank-affiliated asset manager in Canada, providing a range of investment management products and services.

IGM Financial (TSE:IGM - Get Free Report) had its price objective upped by investment analysts at TD Securities from C$55.00 to C$57.00 in a report released on Friday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the financial services provider's stock. TD Securities' price target points to a potential upside of 18.95% from the company's current price.

IGM has been the subject of several other reports. Jefferies Financial Group raised their target price on IGM Financial from C$42.00 to C$46.00 in a research note on Wednesday, July 30th. Scotiabank raised their target price on IGM Financial from C$56.00 to C$57.00 and gave the company a "sector perform" rating in a research note on Thursday, August 7th. National Bankshares raised their target price on IGM Financial from C$54.00 to C$56.00 and gave the company an "outperform" rating in a research note on Tuesday, July 29th. BMO Capital Markets lowered their target price on IGM Financial from C$47.00 to C$46.00 in a research note on Monday, May 12th. Finally, Royal Bank Of Canada upgraded IGM Financial to a "hold" rating and set a C$46.00 target price for the company in a research note on Wednesday, June 18th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of C$52.29.

IGM Financial Stock Down 0.6%

Shares of IGM Financial stock traded down C$0.29 during trading hours on Friday, hitting C$47.92. 15,064 shares of the company's stock traded hands, compared to its average volume of 302,356. The stock has a 50 day simple moving average of C$44.24 and a 200-day simple moving average of C$44.07. The company has a quick ratio of 0.31, a current ratio of 3.61 and a debt-to-equity ratio of 97.24. The company has a market cap of C$11.43 billion, a PE ratio of 12.28, a PEG ratio of 4.09 and a beta of 1.53. IGM Financial has a twelve month low of C$37.51 and a twelve month high of C$48.33.

About IGM Financial

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.