Desjardins Reaffirms Their Hold Rating on National Bank of Canada

By Carrie Williams

Wall Street analyst has provided a review for the Financial company yesterday, but retained the same rating on the stock. National Bank of Canada (TSX: NA) received a Hold rating from Desjardins’ analyst Douglas Young, with a C$60 price target.

According to TipRanks.com, Young is ranked #657 out of 4629 analysts.

National Bank of Canada has an analyst consensus of Moderate Buy, with a price target consensus of C$60.83.

Based on National Bank of Canada’s latest earnings report for the quarter ending April 30, the company posted quarterly revenue of C$2.16 billion and quarterly net profit of C$462 million. In comparison, last year the company earned revenue of C$2.03 billion and had a net profit of C$460 million.

National Bank of Canada engages in the provision of integrated financial services to retail, commercial, corporate, and institutional clients. It operates through the following segments: Personal & Commercial, Wealth Management, Financial Markets and Others.

The company’s shares closed on Thursday at C$57.48, close to its 52-week high of C$59.12.