Laurentian Bank of Canada (TSE:LB) Given Consensus Rating of “Strong Sell” by Brokerages

Laurentian Bank of Canada (TSE:LB) has received a consensus recommendation of “Strong Sell” from the five brokerages that are covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is C$36.44.

LB has been the subject of several recent analyst reports. BMO Capital Markets raised their price target on Laurentian Bank of Canada from C$31.00 to C$40.50 in a report on Monday, December 8th. Scotiabank set a C$33.00 price objective on Laurentian Bank of Canada and gave the stock a “sector perform” rating in a report on Tuesday, November 25th. Raymond James Financial cut Laurentian Bank of Canada from a “market perform” rating to an “underperform” rating in a research report on Monday, December 8th. Canadian Imperial Bank of Commerce downgraded Laurentian Bank of Canada from a “neutral” rating to a “tender” rating and raised their target price for the company from C$35.00 to C$40.50 in a report on Monday, December 8th. Finally, Desjardins decreased their target price on shares of Laurentian Bank of Canada from C$50.00 to C$40.00 and set a “tender” rating on the stock in a research report on Monday, February 9th.

Laurentian Bank of Canada Stock Down 0.1%

Shares of TSE:LB opened at C$40.12 on Tuesday. The company has a market cap of C$1.79 billion, a P/E ratio of 26.75, a PEG ratio of 0.76 and a beta of 1.35. Laurentian Bank of Canada has a 52 week low of C$24.37 and a 52 week high of C$40.47. The company has a 50-day moving average price of C$40.07 and a 200 day moving average price of C$36.57.

Laurentian Bank of Canada Company Profile

Founded in Montreal in 1846, Laurentian Bank is committed to serving its customers and fostering deep relationships with specialized groups. Laurentian Bank runs operations across Canada – primarily in Québec and Ontario – as well as in the United States and competes where it sees market opportunity and has an edge, while harnessing the power of partnerships and collaboration.