National Bank of Canada (NA), the Financial sector company was revisited yesterday, yet the Wall Street analyst remains currently on the sidelines. Analyst Sumit Malhotra from Scotiabank remains neutral on the stock and has a C$68 price target.
According to TipRanks.com, Malhotra is a 4-star analyst with an average return of 8.0% and a 66.5% success rate. Malhotra 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$65.25 average price target, a 3.9% upside from current levels. In a report issued on May 13, Desjardins also reiterated a Hold rating on the stock with a C$64 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 Wednesday at C$62.81.
