CIBC Forecasts Strong Price Appreciation for National Bank of Canada (TSE:NA) Stock

National Bank of Canada (TSE:NA) had its price objective hoisted by CIBC from C$174.00 to C$179.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm presently has a “neutral” rating on the financial services provider’s stock. CIBC’s target price would suggest a potential upside of 3.70% from the stock’s previous close.

A number of other brokerages have also weighed in on NA. Jefferies Financial Group lowered their target price on National Bank of Canada from C$153.00 to C$152.00 and set a “hold” rating on the stock in a research note on Tuesday, November 25th. Scotiabank lifted their target price on National Bank of Canada from C$166.00 to C$184.00 and gave the stock an “outperform” rating in a report on Thursday, December 4th. Barclays boosted their target price on shares of National Bank of Canada from C$147.00 to C$158.00 and gave the company an “equal weight” rating in a research report on Monday, November 24th. TD Securities raised their price target on shares of National Bank of Canada from C$161.00 to C$181.00 and gave the stock a “hold” rating in a research report on Thursday, December 4th. Finally, Royal Bank Of Canada lifted their price objective on shares of National Bank of Canada from C$149.00 to C$163.00 in a research note on Thursday, December 4th. Three investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, National Bank of Canada currently has a consensus rating of “Hold” and an average price target of C$161.92.

National Bank of Canada Trading Up 0.0%

NA opened at C$172.62 on Thursday. The stock’s fifty day simple moving average is C$160.07 and its 200 day simple moving average is C$149.19. National Bank of Canada has a 1-year low of C$106.67 and a 1-year high of C$175.99. The stock has a market cap of C$67.70 billion, a PE ratio of 17.14, a price-to-earnings-growth ratio of 7.14 and a beta of 1.13.

National Bank of Canada (TSE:NA) last released 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 net margin of 19.69% and a return on equity of 15.43%. The firm had revenue of C$3.70 billion during the quarter. Equities analysts forecast 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.