BMO stock gets 20% price target hike, upgrade to ‘Outperform’ from RBC
Bank of Montreal (BMO.TO)(BMO) shares rose on Wednesday after RBC Capital Markets hiked its 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…
