A Wall Street analyst has provided a rating update for the Financial sector company today, while remaining neutral on the stock. National Bank of Canada (NA) received a Hold rating from Canaccord Genuity’s analyst Scott Chan CFA, with a C$64 price target.
According to TipRanks.com, CFA is ranked 0 out of 5 stars with an average return of -3.4% and a 31.4% success rate. CFA covers the Financial sector, focusing on stocks such as Canadian Bank of Commerce, Manulife Financial Corp, and National Bank of Canada.
The word on The Street in general, suggests a Hold analyst consensus rating for National Bank of Canada with a C$64.33 average price target, a 7.4% upside from current levels. In a report issued on November 16, Barclays also maintained a Hold rating on the stock with a C$65 price target.
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Based on National Bank of Canada’s latest earnings release for the quarter ending July 31, the company reported a quarterly revenue of C$2.72 billion and net profit of C$546 million. In comparison, last year the company earned revenue of C$2.36 billion and had a net profit of C$506 million.
National Bank of Canada engages in the provision of commercial banking and financial services. It operates through the following segments: Personal and Commercial, Wealth Management, Financial Markets, US Specialty Finance and International (USSF&I), and Other.
The company’s shares closed on Thursday at C$59.90.
