RBC Capital Keeps Their Hold Rating on Laurentian Bank (LRCDF)

By Carrie Williams

In a report issued on May 29, Darko Mihelic from RBC Capital maintained a Hold rating on Laurentian Bank (LRCDFResearch Report), with a price target of C$33.00. The company’s shares closed last Tuesday at $22.30.

According to TipRanks.com, Mihelic is a 4-star analyst with an average return of 6.3% and a 64.7% success rate. Mihelic covers the Financial sector, focusing on stocks such as Canadian Bank of Commerce, National Bank of Canada, and Toronto Dominion Bank.

Currently, the analyst consensus on Laurentian Bank is a Moderate Sell with an average price target of $21.83, implying a 6.3% upside from current levels. In a report issued on May 29, Barclays also maintained a Hold rating on the stock with a C$28.00 price target.

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The company has a one-year high of $35.42 and a one-year low of $18.90. Currently, Laurentian Bank has an average volume of 604.

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Laurentian Bank of Canada engages in the provision of financial services. It operates through the following segments: Retail Services, Business Services, Business-to-Business (B2B) Bank, and Capital Markets. The Retail Services segment offers savings, investment, and financing products. The Business Services segment caters to the financial needs of business clients, small and medium-sized enterprises, and real estate developers such as leasing solutions, investment, cash management, and international services. The B2B Bank segment supplies banking and financial products to independent financial advisors and non-bank financial Institutions. The Capital Markets segment consists of full-service broker and bank’s capital market activities. The company was founded by Monsignor Ignace Bourget on May 26, 1846 and is headquartered in Montreal, Canada.