In a report issued on August 31, Scott Chan CFA from Canaccord Genuity upgraded Bank Of Montreal (BMO) to Buy. The company’s shares closed last Tuesday at $74.81, close to its 52-week high of $79.93.
According to TipRanks.com, CFA is a 4-star analyst with an average return of 4.4% and a 52.7% 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 $69.50, representing a -5.5% downside. In a report issued on September 1, Fundamental Research also initiated coverage with a Buy rating on the stock with a C$94.07 price target.
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Based on Bank Of Montreal’s latest earnings release for the quarter ending July 31, the company reported a quarterly revenue of $7.14 billion and net profit of $1.23 billion. In comparison, last year the company earned revenue of $6.67 billion and had a net profit of $1.56 billion.
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Bank of Montreal is a diversified financial services provider based in North America, operating four business segments: Canadian P&C banking, U.S. P&C banking, wealth management, and capital markets.
