Scotiabank Forecasts Strong Price Appreciation for Bank of Montreal (TSE:BMO) Stock

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its price objective raised by investment analysts at Scotiabank from C$208.00 to C$209.00 in a note issued to investors on Monday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the bank’s stock. Scotiabank’s target price suggests a potential upside of 2.27% from the company’s current price.

BMO has been the topic of a number of other reports. Raymond James Financial raised shares of Bank of Montreal from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from C$183.00 to C$214.00 in a research note on Friday, February 13th. National Bank Financial lifted their price objective on shares of Bank of Montreal from C$186.00 to C$205.00 and gave the company a “sector perform” rating in a research note on Thursday, February 26th. Desjardins lifted their price objective on shares of Bank of Montreal from C$195.00 to C$208.00 and gave the company a “hold” rating in a research note on Thursday, February 26th. Canadian Imperial Bank of Commerce lifted their price objective on shares of Bank of Montreal from C$209.00 to C$211.00 in a research note on Thursday, March 5th. Finally, Royal Bank Of Canada decreased their price objective on shares of Bank of Montreal from C$219.00 to C$205.00 and set a “sector perform” rating on the stock in a research note on Wednesday, March 25th. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of C$201.42.

Bank of Montreal Stock Down 1.5%

Shares of BMO traded down C$3.05 during mid-day trading on Monday, hitting C$204.36. 3,568,962 shares of the company’s stock were exchanged, compared to its average volume of 2,634,795. Bank of Montreal has a 52 week low of C$133.79 and a 52 week high of C$210.73. The stock’s 50-day simple moving average is C$196.26 and its 200-day simple moving average is C$186.47. The firm has a market cap of C$144.06 billion, a price-to-earnings ratio of 17.03, a price-to-earnings-growth ratio of 0.71 and a beta of 1.17.

About Bank of Montreal

Bank of Montreal is a diversified financial-services provider based in North America, operating four business segments: Canadian personal and commercial banking, U.S. P&C banking, wealth management, and capital markets.