11:53:37 EDT Fri 30 Sep 2022
Enter Symbol
or Name

Login ID:
Canaccord Genuity Group Inc
Symbol CF
Shares Issued 117,827,294
Close 2019-07-31 C$ 5.52
Recent Sedar Documents

Globe says Goff calls Canaccord shares "undervalued"

2019-08-01 07:35 ET - In the News

The Globe and Mail reports in its Thursday edition that Echelon Wealth Partners analyst Rob Goff says Canaccord Genuity Group's ($5.52) "track record speaks to strategy, discipline and success." The Globe's David Leeder writes in the Eye On Equities column that Mr. Goff calls the firm's "high premium" wealth management platform a "crown jewel." He says the shares are "significantly undervalued by shareholders." Mr. Goff began coverage with a "buy" call and $10 share target. Analysts on average target the shares at $9.33. Mr. Goff says in a note: "We are bullish towards wealth managers with scale considering overall growth, competitive dynamics, and consolidation opportunities in the UK, Australia, and Canada, where CF has in-market scale to support accretive economics. ... We see the dominant Canadian bank-owned Wealth Management divisions, leveraged to efficiency versus market share, continuing to pressure payout ratios, limiting advisor flexibility, further striating tiered service levels by account balances and limiting succession plans in an industry where the average advisor age exceeds 50 and certain banks have backed away from training programs for new advisors as branch services offer efficiencies."

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