BMO stock gets 20% price target hike, upgrade to 'Outperform' from RBC [Yahoo! Finance Canada]
Bank Of Montreal (BMO)
Last bank of montreal earnings: 2/25 06:00 am
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US:NYSE Investor Relations:
bmo.com/main/about-bmo/banking/investor-relations/home
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Source: Yahoo! Finance Canada
price target by over 20 per cent, while boosting its rating on the stock to “Outperform.” BMO shares fell in December after the Toronto-based lender reported setting aside more than $1.5 billion in the fourth quarter to guard against potential bad loans, up from $446 million in Q4 2023. Analysts had expected the bank to squirrel away about $1.04 billion in so-called provisions for credit losses. Speaking on a post-earnings conference call at the time, BMO's chief risk officer Piyush Agarwal told investors that while the bank expects provisions to remain elevated, the fourth quarter of 2024 “represents the high point.” RBC's Darko Mihelic sees BMO's credit problems as "mostly over." “We believe BMO is likely past its credit concerns as it identified loans in the 2021 vintage that resulted in elevated credit losses in 2024,” he wrote in a note to clients on Wednesday. “We see more upside to valuation.” Mihelic hiked his price target on Toronto-listed BMO shares from $133 to
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News
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BMO
Earnings
- 12/5/24 - Miss
BMO
Sec Filings
- 1/8/25 - Form 424B2
- 1/8/25 - Form FWP
- 1/8/25 - Form 424B2
- BMO's page on the SEC website