BofA raised the firm’s price target on Bank of Montreal (BMO) to C$176 from C$159 and keeps a Neutral rating on the shares. The Q3 beat to consensus was driven by lower credit costs in the U.S. and stronger pre-provision earnings in the Corporate and Wealth Management segments, the analyst tells investors in a research note. The firm added that it sees better risk/reward elsewhere in the group.
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Read More on BMO:
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