The Financial sector company, National Bank of Canada (NA), has received a rating update from a Wall Street analyst yesterday. Analyst Mario Mendonca from TD Securities remains neutral on the stock and has a C$67 price target.
According to TipRanks.com, Mendonca is a 1-star analyst with an average return of -2.7% and a 32.5% success rate. Mendonca 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$66.25 average price target, implying a 12.6% upside from current levels. In a report issued on November 26, Scotiabank also maintained a Hold rating on the stock with a C$69 price target.
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Based on National Bank of Canada’s latest earnings release for the quarter ending October 31, the company reported a quarterly revenue of C$2.82 billion and net profit of C$550 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 Tuesday at C$58.84, close to its 52-week low of C$57.58.
