Bank of Montreal (BMO) Receives a Buy from RBC Capital

By Jason Carr

In a new note to investors today, an analyst has provided a rating update for the Financial sector company, Bank of Montreal (TSX: BMO). RBC Capital’s analyst Darko Mihelic reiterates their Buy rating on the shares, with a C$126 price target.

Mihelic has an average return of 3.0% when recommending Bank of Montreal.

According to TipRanks.com, Mihelic is ranked #789 out of 4872 analysts.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Bank of Montreal with a C$116 average price target, which is an 8.1% upside from current levels. In a report issued on August 21, Scotiabank also reiterated a Buy rating on the stock with a C$117 price target.

.

Based on Bank of Montreal’s latest earnings release for the quarter ending April 30, the company reported a quarterly revenue of C$7.64 billion and net profit of C$1.25 billion. In comparison, last year the company earned revenue of C$6.91 billion and had a net profit of C$1.39 billion.

Bank of Montreal engages in the provision of banking and financial services to individuals and institutions. It operates through the following segments: Canadian Personal and Commercial; United States Personal and Commercial; Wealth Management; BMO Capital Markets; and Corporate Services.

The company’s shares closed on Wednesday at C$107.27.