National Bank of Canada (TSE:NA) Stock Rating Upgraded by CIBC World Markets

National Bank of Canada (TSE:NA) was upgraded by investment analysts at CIBC World Markets from a “neutral” rating to an “outperform” rating in a report issued on Friday,BayStreet.CA reports. The brokerage presently has a C$189.00 price objective on the financial services provider’s stock, up from their previous price objective of C$179.00. CIBC World Markets’ target price would indicate a potential upside of 8.42% from the stock’s previous close.

Several other equities analysts also recently weighed in on the stock. Canadian Imperial Bank of Commerce raised their price target on shares of National Bank of Canada from C$174.00 to C$179.00 and gave the stock a “neutral” rating in a research note on Thursday, December 11th. Canaccord Genuity Group raised their target price on shares of National Bank of Canada from C$170.00 to C$180.00 and gave the stock a “hold” rating in a research note on Thursday. Desjardins upped their price target on National Bank of Canada from C$180.00 to C$182.00 and gave the company a “buy” rating in a research report on Monday. Raymond James Financial increased their price target on National Bank of Canada from C$168.00 to C$173.00 and gave the company a “market perform” rating in a report on Thursday, December 4th. Finally, Scotiabank lifted their price objective on National Bank of Canada from C$184.00 to C$188.00 in a research report on Friday, January 9th. Four equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, National Bank of Canada presently has an average rating of “Hold” and an average target price of C$169.69.

National Bank of Canada Stock Performance

Shares of TSE:NA traded up C$2.08 during trading on Friday, reaching C$174.33. The stock had a trading volume of 685,532 shares, compared to its average volume of 1,484,611. National Bank of Canada has a 1-year low of C$106.67 and a 1-year high of C$177.54. The stock has a market cap of C$68.04 billion, a PE ratio of 17.31, a PEG ratio of 7.14 and a beta of 1.05. The business has a fifty day moving average price of C$170.95 and a 200-day moving average price of C$159.15.

National Bank of Canada (TSE:NA) last posted its quarterly earnings data on Wednesday, December 3rd. The financial services provider reported C$2.82 EPS for the quarter. National Bank of Canada had a return on equity of 15.43% and a net margin of 19.69%.The firm had revenue of C$3.70 billion during the quarter. Sell-side analysts expect that National Bank of Canada will post 10.8360791 earnings per share for the current year.

About National Bank of Canada

National Bank of Canada is the sixth-largest Canadian bank. The bank offers integrated financial services, primarily in the province of Quebec as well as the city of Toronto. Operational segments include personal and commercial banking, wealth management, and a financial markets group.