Bank of Montreal (TSE:BMO) Price Target Raised to C$224.00

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its target price upped by Canaccord Genuity Group from C$218.00 to C$224.00 in a research report released on Thursday,BayStreet.CA reports. The firm currently has a buy rating on the bank’s stock.

Several other brokerages have also weighed in on BMO. Raymond James Financial raised Bank of Montreal from a “market perform” rating to an “outperform” rating and increased their target price for the stock from C$183.00 to C$214.00 in a research report on Friday, February 13th. Bank of America upped their price target on shares of Bank of Montreal from C$179.00 to C$183.00 in a research report on Friday, December 5th. Barclays lifted their price objective on shares of Bank of Montreal from C$196.00 to C$199.00 and gave the company an “equal weight” rating in a research report on Thursday. Canadian Imperial Bank of Commerce boosted their target price on shares of Bank of Montreal from C$199.00 to C$209.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. Finally, National Bank Financial raised their price target on shares of Bank of Montreal from C$186.00 to C$205.00 and gave the company a “sector perform” rating in a research note on Thursday. Four investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of C$202.33.

Bank of Montreal Stock Performance

Shares of BMO stock opened at C$196.31 on Thursday. The stock has a market capitalization of C$139.17 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 0.71 and a beta of 1.38. Bank of Montreal has a one year low of C$121.31 and a one year high of C$204.57. The company’s 50-day simple moving average is C$188.49 and its 200-day simple moving average is C$179.06.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last issued its earnings results on Thursday, December 4th. The bank reported C$3.28 EPS for the quarter. Bank of Montreal had a return on equity of 9.04% and a net margin of 13.57%.The company had revenue of C$9.34 billion during the quarter. As a group, research analysts forecast that Bank of Montreal will post 9.6514585 EPS for the current year.

Key Stories Impacting Bank of Montreal

Here are the key news stories impacting Bank of Montreal this week:

• Positive Sentiment: Canaccord raised its target to C$224 and kept a Buy rating — one of the largest upside calls among brokers, signalling stronger conviction in BMO’s outlook. Canaccord raise
• Positive Sentiment: Royal Bank of Canada boosted its target to C$219, implying material upside and supporting the thesis of improved earnings and capital returns. RBC raise
• Positive Sentiment: TD Cowen reiterated a Buy, citing improving profitability, U.S. growth and capital-return improvements as the reasons backing a bullish stance. TD Cowen note
• Positive Sentiment: Desjardins raised its target to C$208 and kept a Hold — the higher target is constructive for medium-term upside. Desjardins raise
• Positive Sentiment: Scotiabank lifted its target to C$208 with a Sector Perform — another incremental positive to consensus targets. Scotiabank raise
• Neutral Sentiment: Barclays raised its target to C$199 but kept an Equal Weight rating, suggesting limited near-term upside from their view. Barclays note
• Neutral Sentiment: National Bank increased its target to C$205 but maintained a Sector Perform rating — positive for price target consensus but not a change in conviction. National Bank piece Yahoo summary
• Negative Sentiment: Jefferies trimmed its target slightly to C$195, representing downside from current levels and reflecting a more cautious near-term view. Jefferies note

About Bank of Montreal

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.