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Business

Akanksha Bakshi

RBC Capital Downgrades AGF Management - Read Why

RBC Capital TSX

AGF Management Limited (TSX:AGF) (OTC:AGFMF) has been downgraded to Underperform from Sector Perform by RBC Capital analyst Geoffrey Kwan.
The analyst also lowered the price target to C$8 from C$8.50.
Kwan updated his 12-month objectives on his asset manager coverage universe to reflect expected decreases in AUM this month and slightly lower target multiples in light of recent sector valuation declines.
Price Action: AGF.B shares are trading lower by 5.98% at C$7.39 on TSX on Monday's last check.

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