AGFMF - AGF Management upgraded to Equal Weight at Barclays on earnings strength

marchmeena29/iStock via Getty Images Barclays analyst John Aiken upgrades AGF Management (AGFMF) to Equal Weight from Underweight as he expects the company will continue to benefit from the higher consumer savings rate and equity market momentum coming out of the pandemic. Sees the ban of deferred sales charge immediately increasing cash flow and earnings as AGF will no longer be paying advisers upfront DSC commissions next year. "The additional cash flow will help boost an already strong balance sheet and provide additional resources to invest in growth initiatives, particularly in the private alternative space that AGF has highlighted as a priority for future growth," Aiken writes in a note to clients. Aiken's rating aligns with the Neutral Quant rating, as well as the average Wall Street rating (2 Bullish, 4 Neutral, 2 Bearish). AGMF rates a B+ Momentum Grade, as its 3M, 6M, and 1Y price performance outpaces the financial

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AGF Management upgraded to Equal Weight at Barclays on earnings strength