CIBC Forecasts Strong Price Appreciation for Bank of Montreal (TSE:BMO) Stock

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its target price raised by research analysts at CIBC from C$156.00 to C$173.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The firm presently has a “negative” rating on the bank’s stock. CIBC’s price objective would suggest a potential upside of 10.53% from the company’s current price.

A number of other equities research analysts have also weighed in on the stock. Canaccord Genuity Group set a C$166.00 price objective on shares of Bank of Montreal and gave the company a “buy” rating in a report on Tuesday, June 24th. National Bankshares raised their price objective on shares of Bank of Montreal from C$160.00 to C$161.00 and gave the company an “outperform” rating in a report on Friday, August 15th. Scotiabank upgraded shares of Bank of Montreal to a “hold” rating in a report on Thursday, May 15th. Jefferies Financial Group raised their price objective on shares of Bank of Montreal from C$150.00 to C$164.00 in a report on Wednesday, August 13th. Finally, UBS Group dropped their target price on shares of Bank of Montreal from C$160.00 to C$145.00 in a research report on Thursday, May 22nd. Four investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of C$151.54.

Bank of Montreal Trading Up 0.1%

Shares of BMO opened at C$156.52 on Wednesday. Bank of Montreal has a twelve month low of C$109.22 and a twelve month high of C$158.00. The firm’s fifty day simple moving average is C$153.15 and its 200-day simple moving average is C$144.09. The firm has a market capitalization of C$113.37 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 0.71 and a beta of 1.16.

Insider Transactions at Bank of Montreal

In other news, Senior Officer Erminia Johannson sold 4,676 shares of the firm’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of C$147.57, for a total value of C$690,023.29. Insiders own 0.03% of the company’s stock.

Bank of Montreal Company Profile

Bank of Montreal is a diversified financial-services provider based in North America, operating four business segments: Canadian personal and commercial banking, U.S. P&C banking, wealth management, and capital markets.