National Bank of Canada (TSE:NA) Reaches New 12-Month High After Analyst Upgrade

Shares of National Bank of Canada (TSE:NA) reached a new 52-week high during trading on Wednesday after Scotiabank raised their price target on the stock from C$159.00 to C$166.00. Scotiabank currently has an outperform rating on the stock. National Bank of Canada traded as high as C$165.50 and last traded at C$165.49, with a volume of 1787334 shares traded. The stock had previously closed at C$163.65.

Other equities research analysts have also issued research reports about the stock. Barclays lifted their target price on shares of National Bank of Canada from C$147.00 to C$158.00 and gave the company an “equal weight” rating in a research note on Monday. Cibc World Mkts upgraded National Bank of Canada from a “strong sell” rating to a “hold” rating in a report on Friday, August 1st. TD Securities lifted their price objective on National Bank of Canada from C$148.00 to C$161.00 in a research report on Monday, November 10th. Royal Bank Of Canada dropped their target price on National Bank of Canada from C$152.00 to C$148.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 28th. Finally, CIBC raised their price target on National Bank of Canada from C$154.00 to C$166.00 in a research note on Wednesday, November 19th. Three investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, National Bank of Canada has a consensus rating of “Hold” and an average target price of C$150.77.

National Bank of Canada Price Performance

The company has a fifty day simple moving average of C$154.81 and a two-hundred day simple moving average of C$145.58. The company has a market capitalization of C$64.90 billion, a P/E ratio of 16.30, a price-to-earnings-growth ratio of 7.14 and a beta of 1.08.

National Bank of Canada Company Profile

National Bank of Canada is the sixth-largest Canadian bank. The bank offers integrated financial services, primarily in the province of Quebec as well as the city of Toronto. Operational segments include personal and commercial banking, wealth management, and a financial markets group.