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Fly News Breaks for July 18, 2018
BMO
Jul 18, 2018 | 07:33 EDT
As reported earlier, RBC Capital analyst Darko Mihelic upgraded Bank of Montreal to Outperform from Sector Perform and raised his price target to CAD 124 from CAD 120. The analyst cites expectations of strong earnings growth relative to BMO's peers thanks to rising revenues and cost controls, even though P&C exposure is relatively smaller. Mihelic still contends that the valuation of Bank of Montreal is "attractive" and its risk profile is "favorable" amid concerns over Canadian housing and other macro risks.
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