As previously reported, TD Securities analyst Mario Mendonca upgraded Bank of Montreal (BMO) to Buy from Hold with a price target of C$209, up from C$184. BMO recently changed its return on equity guidance from 15% in the medium term to 15% exiting 2027, which the firm views “very favourably,” the analyst tells investors. The firm now expect the bank’s ROE to climb 300 basis points over the next two years, outpacing the group by 150 basis points, notes the analyst, who raised estimates.
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