Canaccord Genuity Keeps a Buy Rating on Bank Of Montreal (BMO)
Canaccord Genuity analyst Scott Chan CFA maintained a Buy rating on Bank Of Montreal (BMO) yesterday. The company’s shares closed last Wednesday at $105.93, close to its 52-week high of $106.27.
According to TipRanks.com, CFA is a 4-star analyst with an average return of 11.1% and a 60.1% success rate. CFA covers the Financial sector, focusing on stocks such as Canadian Bank of Commerce, National Bank of Canada, and Toronto Dominion Bank.
Currently, the analyst consensus on Bank Of Montreal is a Moderate Buy with an average price target of $114.63, implying a 7.6% upside from current levels. In a report issued on May 19, Merrill Lynch also maintained a Buy rating on the stock with a C$142.00 price target.
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Based on Bank Of Montreal’s latest earnings release for the quarter ending April 30, the company reported a quarterly revenue of $6.3 billion and net profit of $1.3 billion. In comparison, last year the company earned revenue of $5.43 billion and had a net profit of $689 million.
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Bank of Montreal is a Canadian multinational bank and financial services company. It provides personal and commercial banking, lending, mortgages, credit cards and investment advice services. The company also offers specialized banking programs, treasury and payment solutions, risk management products, foreign exchange and cash management solutions to small business and commercial banking customers.