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Bank of Montreal downgraded to Sector Perform from Outperform at RBC Capital

RBC Capital downgraded Bank of Montreal (BMO) to Sector Perform from Outperform with a price target of C$163, down from C$168. Bank of Montreal recently terminated its Normal Course Issuer Bid early and launched a new increased buyback, leading the firm to believe that loan and organic growth may be difficult to achieve in the current economic environment, the analyst tells investors in a research note.

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