As previously reported, CIBC analyst Paul Holden upgraded Bank of Montreal (BMO) to Outperformer from Neutral with a price target of C$180, up from C$173. The firm believes consensus estimates for the Canadian banks remain conservative, positioning the group to beat expectations. For BMO, CIBC sees upside to earnings estimates from lower credit losses, operating efficiency improvement, improving U.S. results, and a positive outlook for investment banking. The stock in morning trading is up 1% to $126.65.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BMO:
- Bank of Montreal Issues GBP 500 Million Callable Notes
- Bank of Montreal upgraded to Outperformer from Neutral at CIBC
- Bank of Montreal receives regulatory approval for NCIB
- BMO Capital Markets Reaffirms ‘Buy Rating’ on Eli Lilly Stock (LLY)
- Bank of Montreal Secures Approval for Share Repurchase Program