CI Financial Corp
CIX: XTSE (CAN)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
CAD 91.00 | Lgby | Plg |
Acquisitions Offset Market Losses and Outflows in CI Financial's Q1; FVE Lowered to CAD 25 Per Share
While there was little in narrow-moat CI Financial's first-quarter results that would alter our long-term view of the firm, we are lowering our fair value estimate to CAD 25 per share from CAD 28 after updating our valuation model to include slightly lower levels of AUM, revenue, and profitability in the near to medium term as a result of increased market volatility during the first couple of quarters of 2022.