Canadian Imperial Bank of Commerce Forecasts Strong Price Appreciation for Bank of Montreal (TSE:BMO) Stock

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its target price lifted by stock analysts at Canadian Imperial Bank of Commerce from C$209.00 to C$211.00 in a research note issued on Thursday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s price objective suggests a potential upside of 7.86% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. TD Securities upped their target price on Bank of Montreal from C$209.00 to C$219.00 in a report on Monday, February 9th. Barclays boosted their price objective on shares of Bank of Montreal from C$196.00 to C$199.00 and gave the company an “equal weight” rating in a research report on Thursday, February 26th. Desjardins raised their target price on shares of Bank of Montreal from C$195.00 to C$208.00 and gave the stock a “hold” rating in a research report on Thursday, February 26th. Raymond James Financial upgraded shares of Bank of Montreal from a “market perform” rating to an “outperform” rating and boosted their price target for the company from C$183.00 to C$214.00 in a research report on Friday, February 13th. Finally, Jefferies Financial Group decreased their price target on shares of Bank of Montreal from C$197.00 to C$195.00 in a research note on Thursday, February 26th. Four equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Bank of Montreal has an average rating of “Hold” and a consensus target price of C$202.50.

Bank of Montreal Stock Down 1.8%

Shares of Bank of Montreal stock traded down C$3.67 during trading on Thursday, reaching C$195.62. 917,811 shares of the stock were exchanged, compared to its average volume of 2,861,354. The stock’s fifty day moving average is C$189.68 and its 200 day moving average is C$179.91. The firm has a market cap of C$138.15 billion, a price-to-earnings ratio of 16.30, a price-to-earnings-growth ratio of 0.71 and a beta of 1.38. Bank of Montreal has a 1 year low of C$121.31 and a 1 year high of C$204.57.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last announced its quarterly earnings results on Thursday, December 4th. The bank reported C$3.28 earnings per share (EPS) for the quarter. Bank of Montreal had a return on equity of 10.47% and a net margin of 11.77%.The company had revenue of C$9.34 billion for the quarter. Equities analysts forecast that Bank of Montreal will post 9.6514585 earnings per share for the current year.

Bank of Montreal Company Profile

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.