In a new note to investors on May 13, an analyst has provided a rating update for the Financial sector company, National Bank of Canada (NA). Analyst Douglas Young from Desjardins reiterated a Hold rating, with a C$64 price target on May 13.
According to TipRanks.com, Young is a 4-star analyst with an average return of 7.6% and a 73.1% success rate. Young covers the Financial sector, focusing on stocks such as Manulife Financial Corp, National Bank of Canada, and Toronto Dominion Bank.
National Bank of Canada has an analyst consensus of Hold, with a price target consensus of C$65.33, implying a 3.0% upside from current levels. In a report issued on May 15, Canaccord Genuity also reiterated 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 January 31, the company reported a quarterly revenue of C$2.9 billion and net profit of C$536 million. In comparison, last year the company earned revenue of C$2.56 billion and had a net profit of C$522 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$63.45.
