On December 6, an analyst has provided a rating update for the Financial sector company, Laurentian Bank of Canada (LB). Analyst Sumit Malhotra from Scotiabank reiterated a Hold rating, with a C$42 price target on December 6.
According to TipRanks.com, Malhotra is a 4-star analyst with an average return of 3.3% and a 49.1% success rate. Malhotra covers the Financial sector, focusing on stocks such as Canadian Bank of Commerce, Manulife Financial Corp, and National Bank of Canada.
Currently, the analyst consensus on Laurentian Bank of Canada is a Hold with an average price target of C$44.44, which is a 12.1% upside from current levels. In a report issued on November 22, Canaccord Genuity also maintained a Hold rating on the stock with a C$40 price target.
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Laurentian Bank of Canada’s market cap is currently C$1.67B and has a P/E ratio of 7.8. The company has a Price to Book ratio of 0.74.
Laurentian Bank of Canada engages in the provision of financial services. It operates through the following segments: Retail Services, Business Services, Business-to-Business (B2B) Bank, and Capital Markets. The Retail Services segment offers savings, investment, and financing products.
The company’s shares closed on Friday at C$39.66, close to its 52-week low of C$37.05.
