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Fly News Breaks for February 26, 2020
Feb 26, 2020 | 06:44 EDT
RBC Capital analyst Darko Mihelic downgraded Bank of Montreal to Sector Perform from Outperform with a price target of C$98, down from C$109. The analyst cites the company's below-consensus Q1 earnings and subsequent uncertainty related to its credit costs as gross impaired loans continued to trend higher and at a faster pace than than of its peers. Mihelic is updating his provision for credit losses in FY20, forecasting a ratio of 27bps vs. 23bps prior outlook.
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