Laurentian Bank of Canada (TSE:LB) had its price objective cut by equities researchers at Canaccord Genuity from C$36.00 to C$35.00 in a research report issued on Thursday, BayStreet.CA reports. Canaccord Genuity’s target price would suggest a potential downside of 19.89% from the stock’s current price.
Several other equities analysts have also recently weighed in on the company. CIBC upgraded Laurentian Bank of Canada from an “underperform” rating to a “neutral” rating and lifted their price target for the company from C$43.00 to C$49.00 in a research report on Tuesday, August 13th. Barclays reiterated an “equal weight” rating and set a C$46.00 price objective on shares of Laurentian Bank of Canada in a research note on Friday, August 30th. National Bank Financial dropped their price objective on Laurentian Bank of Canada from C$40.00 to C$38.00 and set an “underperform” rating on the stock in a report on Thursday. Finally, Scotiabank cut their target price on Laurentian Bank of Canada from C$42.00 to C$41.00 in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. The stock has a consensus rating of “Hold” and an average price target of C$43.40.
Shares of TSE:LB traded down C$0.76 during trading on Thursday, hitting C$43.69. 404,145 shares of the company were exchanged, compared to its average volume of 240,308. The company has a market cap of $1.94 billion and a PE ratio of 10.90. The stock has a 50 day moving average of C$45.99 and a 200 day moving average of C$44.90. Laurentian Bank of Canada has a 52-week low of C$36.21 and a 52-week high of C$46.99.
Laurentian Bank of Canada, together with its subsidiaries, provides banking services to individuals, small and medium-sized enterprises, and independent advisors in Canada and the United States. It operates through four segments: Retail Services, Business Services, B2B Bank, and Capital Markets. The company offers transactional products and current accounts, term deposits, and investment accounts; personal line of credit, personal loans, student loans, and registered retirement savings plans; financing for agriculture, real estate, and commercial industries, as well as small and medium-sized enterprises; mortgage solutions, such as variable-rate mortgage, fixed-rate mortgage, equity line of credit, mortgage insurance, and retirement line of credit; and credit and business cards, as well as equipment finance solutions.
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