As previously reported, Scotiabank analyst Meny Grauman upgraded Bank of Montreal (BMO) to Outperform from Sector Perform with a price target of C$160, up from C$147. The firm heard “encouraging signals” during theearnings callthat were “more positive and clearer that what we heard after Q3’s credit surprise,” noting that management now has confidence that BMO’s impaired PCL ratio peaked this quarter and will moderate through 2025. Macro trends in the U.S. have improved materially over the past few quarters, particularly in the wake of the Trump election, adds the firm, which says “we have always believed in BMO’s U.S. story, and recent developments only make the BoW acquisition more exciting.”
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on BMO:
- BMO Financial Group Reports Strong Q4 2024 Results
- Bank of Montreal upgraded to Outperformer from Neutral at CIBC
- TD Earnings: Shares Continue to Look Intriguing after Poor Results
- Bank of Montreal upgraded to Outperform from Sector Perform at Scotiabank
- BMO Financial Group Reports Strong 2024 Q4 Results
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
