TD Securities Thinks Laurentian Bank of Canada’s Stock is Going to Recover
A Wall Street analyst has provided a review for the Financial company on November 30, but retained the same rating on the stock. On November 30, analyst Mario Mendonca gave a Buy rating to LB and set a C$52 price target.
According to TipRanks.com, Mendonca is a 1-star analyst with an average return of -0.4% and a 41.8% success rate. Mendonca covers the Financial sector, focusing on stocks such as Manulife Financial Corp, National Bank of Canada, and Canadian Western Bank.
Currently, the analyst consensus on Laurentian Bank of Canada is a Hold with an average price target of C$47.33, a 13.5% upside from current levels. In a report issued on November 16, Barclays also maintained a Buy rating on the stock with a C$48 price target.
Laurentian Bank of Canada’s market cap is currently C$1.75B and has a P/E ratio of 7.7. The company has a Price to Book ratio of 0.78.
Laurentian Bank of Canada engages in the provision of financial services across Canada. It operates through the following segments Personal and Commercial; B2B Bank; Laurentian Bank Securities and Capital Markets; and Other. Personal and Commercial segment caters to the financial needs of business clients across Canada and retail clients in Québec.
The company’s shares closed on Monday at C$41.70, close to its 52-week low of C$40.25.