| Wednesday | ||||
Scotiabank analyst Meny… Scotiabank analyst Meny Grauman lowered the firm's price target on Bank of Montreal to C$104 from C$106 and keeps a Sector Perform rating on the shares. | ||||
| Over a week ago | ||||
National Bank analyst… National Bank analyst Gabriel Dechaine raised the firm's price target on Bank of Montreal to C$102 from C$93 and keeps a Sector Perform rating on the shares. | ||||
| Over a month ago | ||||
RBC Capital analyst Darko… RBC Capital analyst Darko Mihelic raised the firm's price target on Bank of Montreal to C$110 from C$86 and keeps a Sector Perform rating on the shares. | ||||
CIBC analyst Paul Holden… CIBC analyst Paul Holden raised the firm's price target on Bank of Montreal to C$116 from C$108 and keeps an Outperformer rating on the shares. | ||||
Scotiabank analyst Meny… Scotiabank analyst Meny Grauman raised the firm's price target on Bank of Montreal to C$106 from C$104 and keeps a Sector Perform rating on the shares. | ||||
RBC Capital analyst Darko… RBC Capital analyst Darko Mihelic raised the firm's price target on Bank of Montreal to C$110 from C$86 but keeps a Sector Perform rating on the shares after its Q4 results. The analyst says the company's credit loss provisions registered a "positive surprise", with credit performance looking to have "turned the corner". Mihelic adds that his new price target reflects a higher modeled valuation multiple for Bank of Montreal as it enters a "recovery phase", though he still remains concerned that an economic recovery may be "uneven". | |
Canaccord analyst Scott… Canaccord analyst Scott Chan raised the firm's price target on Bank of Montreal to C$103.50 from C$94.50 and keeps a Buy rating on the shares. The analyst noted its high quality Q4 earnings beat and said it produced solid results across all business segments. The company remains confident in its improved credit outlook and said its US P&C trends are more resilient than its peers. | |
Reports Q4 revenue… Reports Q4 revenue C$5.99B vs. C$7.19B last year. Reports Q4 CET1 capital ratio 11.9%. "BMO continued to demonstrate strong operating momentum this quarter, delivering adjusted earnings of $1.6 billion and adjusted earnings per share of $2.41, with pre-provision, pre-tax earnings up 7% from last year, good operating leverage and an efficiency ratio of 58.7%," said Darryl White, CEO, BMO Financial Group. "We entered the year in a strong position with good momentum across our businesses. Throughout the challenges brought on by the pandemic we have been on the front line of the economic recovery, supporting our customers, communities and employees through uncertainty and hardship. Our results for the year are a testament to the resilience and diversification of our businesses and our ability to quickly adapt to the evolving environment, while actively delivering against our strategic priorities. In 2020, adjusted earnings per share were $7.71, having appropriately provisioned for loan losses. Adjusted pre-provision, pre-tax earnings increased 7%, as we held expenses stable to last year, delivered above-target positive operating leverage of 2.7%, improved our efficiency by 160 basis points from last year and maintained strong capital and liquidity positions." | |
Scotiabank analyst Meny… Scotiabank analyst Meny Grauman raised the firm's price target on Bank of Montreal to C$104 from C$85. | |
CIBC analyst Paul Holden… CIBC analyst Paul Holden upgraded Bank of Montreal to Outperformer from Neutral with a price target of C$108, up from C$95. Holden has switched his stance from defense to offense, stating that this is "more of a tactical call within our bigger-picture framework, which remains rooted in a lower-for-longer interest rate scenario." He thinks vaccine news and Joe Biden's fiscal/COVID policy have reduced the benefit of having additional reserves for downside scenarios and now sees loan growth returning sooner than he previously expected, Holden added. |