Canaccord Genuity Group Forecasts Strong Price Appreciation for Bank of Montreal (TSE:BMO) Stock

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its price target hoisted by investment analysts at Canaccord Genuity Group from C$143.00 to C$148.00 in a research report issued on Friday,BayStreet.CA reports. Canaccord Genuity Group’s price objective points to a potential upside of 1.15% from the company’s previous close.

Several other equities research analysts have also recently issued reports on the stock. Royal Bank of Canada decreased their price target on shares of Bank of Montreal from C$118.00 to C$106.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 28th. Cormark lowered their target price on shares of Bank of Montreal from C$129.00 to C$118.00 in a research note on Wednesday, August 28th. Bank of America downgraded Bank of Montreal from a “buy” rating to a “neutral” rating and cut their price target for the company from C$134.00 to C$117.00 in a report on Wednesday, August 28th. Scotiabank upgraded Bank of Montreal from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from C$147.00 to C$160.00 in a report on Friday. Finally, CIBC upgraded Bank of Montreal from a “neutral” rating to an “outperform” rating and increased their target price for the stock from C$134.00 to C$150.00 in a research report on Friday. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Bank of Montreal has a consensus rating of “Moderate Buy” and an average price target of C$131.33.

Bank of Montreal Stock Up 4.7 %

Shares of TSE:BMO opened at C$146.32 on Friday. The company has a market capitalization of C$106.73 billion, a P/E ratio of 16.84, a P/E/G ratio of 0.71 and a beta of 1.16. The stock’s fifty day simple moving average is C$128.88 and its 200-day simple moving average is C$121.72. Bank of Montreal has a 52-week low of C$109.02 and a 52-week high of C$147.54.

Insiders Place Their Bets

In other Bank of Montreal news, Senior Officer David Robert Casper sold 12,819 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of C$121.85, for a total transaction of C$1,562,007.97. 0.03% of the stock is owned by insiders.

Bank of Montreal Company Profile

Bank of Montreal provides diversified financial services primarily in North America. It operates through Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. The company's personal banking products and services include deposits, mortgages, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.