National Bank of Canada (TSE:NA) Stock Rating Upgraded by Canadian Imperial Bank of Commerce

National Bank of Canada (TSE:NA) was upgraded by equities researchers at Canadian Imperial Bank of Commerce from a “hold” rating to an “outperform” rating in a research note issued on Friday, MarketBeat reports. The firm presently has a C$189.00 price target on the financial services provider’s stock, up from their prior price target of C$179.00. Canadian Imperial Bank of Commerce’s target price would suggest a potential upside of 8.14% from the company’s previous close.

NA has been the topic of a number of other reports. BMO Capital Markets lifted their target price on National Bank of Canada from C$172.00 to C$177.00 in a research report on Wednesday, December 17th. Desjardins raised their price objective on National Bank of Canada from C$180.00 to C$182.00 and gave the company a “buy” rating in a research note on Monday, February 9th. Barclays upped their target price on National Bank of Canada from C$147.00 to C$158.00 and gave the company an “equal weight” rating in a research report on Monday, November 24th. Jefferies Financial Group raised their price target on shares of National Bank of Canada from C$156.00 to C$165.00 in a research report on Wednesday. Finally, Scotiabank upped their price target on shares of National Bank of Canada from C$184.00 to C$188.00 in a report on Friday, January 9th. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, National Bank of Canada presently has a consensus rating of “Hold” and an average price target of C$168.92.

National Bank of Canada Stock Up 1.5%

Shares of TSE:NA opened at C$174.78 on Friday. The company has a market capitalization of C$68.22 billion, a price-to-earnings ratio of 17.36, a price-to-earnings-growth ratio of 7.14 and a beta of 1.05. The company has a 50 day moving average of C$171.03 and a two-hundred day moving average of C$159.46. National Bank of Canada has a 52-week low of C$106.67 and a 52-week high of C$177.54.

National Bank of Canada (TSE:NA) last announced its earnings results on Wednesday, December 3rd. The financial services provider reported C$2.82 earnings per share for the quarter. The business had revenue of C$3.70 billion during the quarter. National Bank of Canada had a net margin of 19.69% and a return on equity of 15.43%. On average, equities analysts anticipate that National Bank of Canada will post 10.8360791 earnings per share for the current year.

About National Bank of Canada

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.