The Globe and Mail reports in its Thursday, Aug. 28, edition that Bank of Montreal's ($83.14) United States segment could be turning the corner after a string of weak quarters, says Canaccord Genuity analyst Gabriel Dechaine. The Globe's Darcy Keith, Tim Shufelt and Jody White write in the Eye On Equities column that BMO's third quarter earnings exceeded expectations largely as a result of capital markets and Canadian banking. However, the U.S. segment posted flat yearly earnings growth after three quarters of declines. Mr. Dechaine says, "If BMO can maintain this performance, which is challenging in a low rate/intensely competitive environment, we could easily argue for a rerating of the stock." He raised his price target on the stock to $85 from $83 while maintaining a "hold" rating. Several other analysts also raised their BMO targets. Desjardins Securities went to $84 from $81, BMO Nesbitt Burns to $84 from $78, National Bank Financial to $86 from $82, RBC Dominion Securities to $85 from $77, and TD Securities -- which also upgraded its rating on the stock to "buy" from "hold" -- raised its target to $88 from $84. The analyst consensus price target for Bank of Montreal over the next year is $82.71.