Canadian Imperial Bank of Commerce Issues Positive Forecast for Bank of Montreal (TSE:BMO) Stock Price

Bank of Montreal (TSE:BMO – Get Free Report) (NYSE:BMO) had its price objective lifted by investment analysts at Canadian Imperial Bank of Commerce from C$211.00 to C$226.00 in a report issued on Thursday,BayStreet.CA reports. The brokerage currently has an “outperformer” rating on the bank’s stock. Canadian Imperial Bank of Commerce’s price target would indicate a potential upside of 7.82% from the company’s current price.

Several other analysts also recently weighed in on the stock. Barclays downgraded shares of Bank of Montreal from an “equal weight” rating to a “strong sell” rating in a research report on Friday, March 20th. Scotiabank lifted their price objective on shares of Bank of Montreal from C$208.00 to C$209.00 and gave the company a “sector perform” rating in a research report on Monday, May 4th. Jefferies Financial Group cut their price objective on shares of Bank of Montreal from C$197.00 to C$195.00 in a research report on Thursday, February 26th. Desjardins lifted their price objective on shares of Bank of Montreal from C$208.00 to C$212.00 and gave the company a “hold” rating in a research report on Tuesday, May 5th. Finally, TD lifted their price objective on shares of Bank of Montreal from C$219.00 to C$234.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Bank of Montreal has an average rating of “Hold” and an average price target of C$206.38.

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Bank of Montreal Trading Up 1.7%

TSE:BMO traded up C$3.60 during mid-day trading on Thursday, hitting C$209.60. The stock had a trading volume of 723,030 shares, compared to its average volume of 2,667,571. The stock has a market capitalization of C$147.75 billion, a price-to-earnings ratio of 17.47, a P/E/G ratio of 0.71 and a beta of 1.25. The company has a 50 day simple moving average of C$197.62 and a 200-day simple moving average of C$188.05. Bank of Montreal has a 52 week low of C$141.85 and a 52 week high of C$212.74.

Bank of Montreal Company Profile

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Bank of Montreal is a diversified financial-services provider based in North America, operating four business segments: Canadian personal and commercial banking, U.S. P&C banking, wealth management, and capital markets.

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