RBC Capital analyst Bart Dziarski initiated coverage of IGM Financial (IGIFF) with a Sector Perform rating and C$46 price target The firm takes a neutral stance on the stock based on its more cautious view of the asset management space that is being driven by an uncertain macro outlook, market volatility and persistent fee pressure, the analyst tells investors in a research note. IGM has also completed turnarounds at both its Wealth Management and Asset Management businesses however, which has helped stabilize its net flows, the firm added.
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