The Globe and Mail reports in its Wednesday edition that RBC analyst Geoffrey Kwan made some rating changes to the stocks in his coverage universe. The Globe's David Leeder writes in the Eye On Equities column that Mr. Kwan downgraded IGM Financial ($32.46) to "sector perform" from "outperform" and lowered his share target to $38 from $43. Analysts on average target IGM shares at $37.29.
The Globe reported on Oct. 30, 2018, that Canaccord Genuity analyst Scott Chan was bearish on IGM, which was then trading at $32.19. The RBC stockpicker lowered First National Financial ($28.61) to "underperform" from "sector perform" with a $29 share target, which sits a loonie below the consensus.
The Globe reported on April 11, 2018, that BMO analyst Nik Priebe rated First National "market perform," with a $26 share target. In the item, Mr. Preibe said the outlook was uncertain for First National. First National shares were then worth $26.51. Conversely, Mr. Kwan upgraded TMX Group ($73.29) to "outperform" from "sector perform" with an $89 share target, down from $95, and below the consensus of $95.60. The Globe reported on Oct. 31, 2017, that CIBC analyst Paul Holden was bullish on TMX. Its shares were then worth $70.92.
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