CIBC Forecasts Strong Price Appreciation for Laurentian Bank of Canada (TSE:LB) Stock

Laurentian Bank of Canada (TSE:LB) had its price objective raised by CIBC from C$33.00 to C$35.00 in a research report released on Wednesday morning,BayStreet.CA reports. The brokerage currently has a neutral rating on the stock.

Several other analysts have also weighed in on LB. Jefferies Financial Group increased their price target on Laurentian Bank of Canada from C$29.00 to C$31.00 in a report on Wednesday, August 13th. National Bankshares decreased their price target on Laurentian Bank of Canada from C$28.00 to C$27.00 and set an “underperform” rating on the stock in a report on Friday, August 15th. Scotiabank increased their price target on Laurentian Bank of Canada from C$28.00 to C$32.00 and gave the company a “sector perform” rating in a report on Tuesday, June 3rd. Raymond James Financial increased their price target on Laurentian Bank of Canada from C$27.00 to C$28.00 and gave the company a “market perform” rating in a report on Tuesday, June 3rd. Finally, Desjardins increased their price target on Laurentian Bank of Canada from C$29.00 to C$30.00 and gave the company a “sell” rating in a report on Wednesday, August 13th. Four investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of C$30.43.

Laurentian Bank of Canada Price Performance

Shares of LB opened at C$30.67 on Wednesday. The stock has a market capitalization of C$1.35 billion, a price-to-earnings ratio of -244.62, a price-to-earnings-growth ratio of 0.76 and a beta of 1.25. Laurentian Bank of Canada has a 1 year low of C$24.37 and a 1 year high of C$31.74. The business’s 50 day simple moving average is C$30.79 and its 200-day simple moving average is C$28.59.

About Laurentian Bank of Canada

Laurentian Bank of Canada provides personal banking, business banking and real estate and commercial financing to its personal, business, and institutional customers across Canada and the United States. The company reports three operating segments: personal, business services, and capital markets. The personal segment offers financial services to retail clients.