Laurentian Bank downgraded to Underperform from Market Perform at Raymond James

Raymond James downgraded Laurentian Bank (LRCDF) to Underperform from Market Perform with a C$40.50 price target Laurentian reported Q4 results, but quarterly results “will become less relevant” as the bank moves closer to be sold to Fairstone Bank in the transaction announced earlier this week, the analyst tells investors. The firm does not believe there is sufficient return to maintain a position in the stock and recommends shareholders “attain price certainty at this time.”