As previously reported, TD Securities analyst Graham Ryding upgraded Canaccord Genuity (CCORF) to Buy from Hold with a price target of C$12, up from C$10, citing a more constructive view of its wealth business. The firm, which sees potential for a near-term pick up in capital markets activity, notes that its raised target reflects a higher multiple on Canaccord’s wealth earnings to reflect the value seen in its Canadian and UK wealth platforms.
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