04:22:26 EDT Mon 20 Sep 2021
Enter Symbol
or Name
USA
CA



Login ID:
Password:
Save
Bank of Montreal
Symbol BMO
Shares Issued 647,242,067
Close 2021-05-11 C$ 117.14
Recent Sedar Documents

Globe says Bank of Montreal kept at "underweight"

2021-05-12 08:10 ET - In the News

The Globe and Mail reports in its Wednesday, May 12, edition that Barclays analyst John Aiken expects credit and capital markets to drive better-than-expected second quarter results for Canadian banks. The Globe's David Leeder writes that Mr. Aiken says in a note: "Positive macro fundamentals could improve the banks' credit loss scenarios, while record equity markets will likely buoy underwriting and trading activity. Record home sales will likely continue to support steady mortgage and asset growth, although margins remain challenged, and weighed by the three fewer days in the quarter, we expect net interest income will moderate in Q2. In terms of valuations, the banks are trading at healthy multiples, reflecting increasing optimism on the outlook for the economy. While we do not believe that investors are necessarily pricing in exceptional growth in 2022 and beyond, we believe that the view is that consensus estimates are too conservative for 2021." With that view, Mr. Aiken raised his earnings expectations for the sector. That also led him to raise his share target for Bank of Montreal to $112 from $107. Analysts continue to rate the shares $119.67. Mr. Aiken rates Bank of Montreal "underweight."

© 2021 Canjex Publishing Ltd. All rights reserved.