CI Financial Corp

Company Overview: CI Financial Corp. is a diversified worldwide asset and wealth management firm founded in Canada that operates in Canada, the United States, and Australia. The Company manages, markets, distributes, and administers investment products for Canadian customers, as well as offering financial consulting, tax, retirement, estate, and wealth planning services.

As per our previous report published on, CIXX on 13th December 2022, Kalkine provided a ‘Buy’ stance on the stock at USD 10.07 based on ‘latest quarterly results, consistent FCF generation, upside indicated by valuation and key risk with the businesses and the stock price has now moved by ~15.4% since then and the price has attained the Resistance 1 and is around the level of Resistance 2.

Noted below are the details of support and resistance levels provided in our previous report:

CIXX’s Daily Chart

Considering the resistance around the range of the long-term (200-day) SMA, resistance 1 attainment, closing to target price of USD 11.72, current trading levels, risks associated, and volatile market conditions on the back of rising interest rates, a ‘Sell’ rating is assigned to the “CIXX” at the current market price of USD 11.62 (as of 18 January 2023, at 07:05 am PST).  

Note: This report may be updated with details around fundamental and technical analysis, price/ chart in due course, as appropriate 

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is 18^th January 2023. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Target Price refers to a price level that the stock is expected to reach as per the relative valuation method and or technical analysis taking into consideration both short-term and long-term scenarios.

Note 5: ‘Kalkine reports are prepared based on the stock prices captured either from the New York Stock Exchange (NYSE), NASDAQ Capital Markets (NASDAQ), and or REFINITIV. Typically, all sources (NYSE, NASDAQ, or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.’

Disclaimer

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