IGM Financial Price Target Raised to $56 at TD

MT Newswires Live
02-10

TD Securities raised its price target on IGM Financial Inc. (IGM.TO) to $56 from $51 on Monday.

Analyst Graham Ryding maintained a Buy rating on shares of the Canadian asset management company following its quarterly results.

"Q4/24 results were largely in line with expectations, but we see some encouraging momentum and fundamentals," Ryding said in a note to clients. "IG Wealth is flowing positively again, demonstrating traction with sales to higher net worth households, and mortgage/insurance sales."

"While Mackenzie retail flows remain negative, they are making progress with retail wealth partners, and notably won $4 Billion of institutional mandates that are expected to fund in Q1/25," the analyst said.

"Strategic assets continue to show strong AUMA growth (albeit earnings growth is less compelling)."

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

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