Laurentian Bank of Canada (LB) Receives a Sell from Canaccord Genuity


Laurentian Bank of Canada (LB), the Financial sector company, was revisited by a Wall Street analyst yesterday. Analyst Scott Chan CFA from Canaccord Genuity remains bearish on the stock and has a C$34 price target.

According to TipRanks.com, CFA is a 1-star analyst with an average return of -0.9% and a 45.7% success rate. CFA covers the Financial sector, focusing on stocks such as Canadian Bank of Commerce, Manulife Financial Corp, and Canadian Western Bank.

Laurentian Bank of Canada has an analyst consensus of Hold, with a price target consensus of C$41.25.

Based on Laurentian Bank of Canada’s latest earnings release for the quarter ending January 31, the company reported a quarterly net profit of C$40.26 million. In comparison, last year the company had a net profit of C$59.2 million.

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 Wednesday at C$42.29.

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