National Bank of Canada (TSE:NA) Reaches New 12-Month High Following Analyst Upgrade

Shares of National Bank of Canada (TSE:NA) reached a new 52-week high on Wednesday after Raymond James Financial upgraded the stock to a hold rating. The company traded as high as C$165.50 and last traded at C$165.49, with a volume of 1787334 shares trading hands. The stock had previously closed at C$163.65.

NA has been the subject of a number of other reports. Desjardins upgraded National Bank of Canada from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 11th. Royal Bank Of Canada reduced their target price on shares of National Bank of Canada from C$152.00 to C$148.00 and set a “sector perform” rating for the company in a report on Thursday, August 28th. TD Securities lifted their price target on shares of National Bank of Canada from C$148.00 to C$161.00 in a research note on Monday, November 10th. Jefferies Financial Group cut their price objective on shares of National Bank of Canada from C$153.00 to C$152.00 and set a “hold” rating for the company in a research report on Tuesday. Finally, Barclays raised their target price on National Bank of Canada from C$147.00 to C$158.00 and gave the stock an “equal weight” rating in a report on Monday. Three research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of C$150.77.

National Bank of Canada Stock Performance

The firm’s 50-day moving average is C$155.16 and its two-hundred day moving average is C$145.73. The stock has a market cap of C$65.78 billion, a P/E ratio of 16.53, a PEG ratio of 7.14 and a beta of 1.08.

About National Bank of Canada

National Bank of Canada is the sixth-largest Canadian bank. The bank offers integrated financial services, primarily in the province of Quebec as well as the city of Toronto. Operational segments include personal and commercial banking, wealth management, and a financial markets group.