Laurentian Bank of Canada (LB) Downgraded by Canaccord Genuity to Speculative Buy
Laurentian Bank of Canada (TSE:LB) was downgraded by stock analysts at Canaccord Genuity from a “buy” rating to a “speculative buy” rating in a report released on Wednesday, StockTargetPrices.com reports. They presently have a C$61.00 price objective on the stock, down from their previous price objective of C$67.00. Canaccord Genuity’s price objective indicates a potential upside of 8.93% from the company’s current price.
LB has been the subject of several other reports. BMO Capital Markets raised shares of Laurentian Bank of Canada from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from C$57.00 to C$62.00 in a report on Wednesday. Barclays upped their price objective on shares of Laurentian Bank of Canada from C$57.00 to C$62.00 in a report on Wednesday. CIBC upped their price objective on shares of Laurentian Bank of Canada from C$61.00 to C$66.00 in a report on Monday, November 13th. National Bank Financial upped their price objective on shares of Laurentian Bank of Canada from C$58.00 to C$59.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 30th. Finally, Scotiabank reaffirmed a “sector perform” rating and set a C$60.00 price objective on shares of Laurentian Bank of Canada in a report on Monday, August 21st. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of C$60.90.
Laurentian Bank of Canada (LB) traded down C$4.80 during mid-day trading on Wednesday, reaching C$56.00. 907,479 shares of the company’s stock traded hands, compared to its average volume of 128,039. Laurentian Bank of Canada has a 12 month low of C$51.57 and a 12 month high of C$62.90.
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Laurentian Bank of Canada is a Canada-based Chartered bank. The Bank and its subsidiaries provide banking services to individuals, and small and medium-sized enterprises, as well as to independent advisors across Canada. It also operates as a full-service brokerage firm. The Bank’s loan portfolio consists of personal loans, residential mortgage loans, commercial mortgage loans and commercial loans, including acceptances and finance lease receivables.
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