RBC Capital Sticks to Their Hold Rating for Laurentian Bank of Canada

By Austin Angelo

The Financial sector company, Laurentian Bank of Canada (TSX: LB), has received a rating update from a Wall Street analyst yesterday. Analyst Darko Mihelic from RBC Capital remains neutral on the stock and has a C$60 price target.

According to TipRanks.com, Mihelic is a 4-star analyst with an average return of 5.3% and a 64.2% success rate. Mihelic covers the Financial sector, focusing on stocks such as Manulife Financial Corp, Goldman Sachs Group Inc, and Toronto Dominion Bank.

Currently, the analyst consensus on Laurentian Bank of Canada is Hold and the average price target is C$59.29, representing a 4.1% upside.

In a report issued on September 5, Desjardins also reiterated a Hold rating on the stock with a C$57 price target.

The company has a one year high of C$61.67 and a one year low of C$48.11. Currently, Laurentian Bank of Canada has an average volume of 115.8K.

Laurentian Bank of Canada is a banking institution that offers financial services across Canada. It offers its products to a network of independent financial intermediaries through B2B Trust, as well as full-service brokerage solutions through Laurentian Bank Securities.

The company’s shares closed on Friday at C$56.96.