Veritas Investment Research cuts Bank of Montreal (TSE:BMO) for sale
Bank of Montreal (TSE:BMO – Get Rating) (NYSE:BMO) was downgraded by equity researchers at Veritas Investment Research to a “sell” rating in a research report released Wednesday to clients and investors. They currently have a C$134.00 price target on the bank’s stock. Veritas Investment Research’s price target indicates upside potential of 9.65% from the current stock price.
Other analysts have also recently published research reports on the company. CSFB reduced its price target on Bank of Montreal from C$159.00 to C$157.00 in a Thursday, May 26 research note. Credit Suisse Group lowered its price target on Bank of Montreal to C$150.00 and gave the stock an “outperform” rating in a research note on Wednesday. Canaccord Genuity Group raised its price target on Bank of Montreal from C$155.00 to C$157.00 in a Thursday, May 26 research note. CIBC raised its price target on Bank of Montreal from C$142.00 to C$143.00 and gave the stock a “neutral” rating in a Tuesday, August 16 research report. Finally, Barclays lowered its price target on Bank of Montreal from C$149.00 to C$140.00 in a Monday, August 15 research report. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned the stock a buy rating. According to MarketBeat, the stock currently has an average rating of “moderate buy” and an average target price of C$145.41.
Bank of Montreal price performance
BMO fell C$2.28 on Wednesday to C$122.21. The company’s stock had a trading volume of 664,886 shares, compared to an average trading volume of 2,389,463 shares. The stock has a market cap of C$82.43 billion and a price-to-earnings ratio of 6.69. Bank of Montreal has a 1-year low of C$118.79 and a 1-year high of C$154.47. The company’s 50-day moving average is C$126.90 and its 200-day moving average is C$136.09.
About Bank of Montreal
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Bank of Montreal offers diversified financial services primarily in North America. The Company’s personal banking products and services include checking and savings accounts, credit cards, mortgages, and financial advisory and investment services; and commercial banking products and services include business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, specialty banking programs, treasury solutions and payment and risk management products for small business and commercial bank customers.
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