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

Laurentian Bank of Canada (TSE:LB) had its price objective hoisted by investment analysts at Scotiabank from C$26.00 to C$30.00 in a research note issued to investors on Monday,BayStreet.CA reports. Scotiabank’s price target indicates a potential upside of 2.46% from the stock’s current price.

Several other brokerages also recently issued reports on LB. Cibc World Mkts raised Laurentian Bank of Canada to a “hold” rating in a report on Wednesday, August 21st. Desjardins raised their price target on Laurentian Bank of Canada from C$25.00 to C$26.00 and gave the stock a “sell” rating in a report on Tuesday, August 6th. BMO Capital Markets raised their price target on Laurentian Bank of Canada from C$27.00 to C$28.00 in a report on Monday, November 18th. CIBC cut their price target on Laurentian Bank of Canada from C$30.00 to C$28.00 and set a “neutral” rating on the stock in a report on Tuesday, August 20th. Finally, Raymond James raised their price target on Laurentian Bank of Canada from C$26.00 to C$27.00 in a report on Wednesday, September 4th. Three analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to MarketBeat.com, Laurentian Bank of Canada presently has a consensus rating of “Hold” and an average target price of C$26.80.

Laurentian Bank of Canada Stock Up 1.6 %

TSE:LB traded up C$0.47 during trading hours on Monday, reaching C$29.28. 135,969 shares of the stock were exchanged, compared to its average volume of 232,479. The firm has a 50 day simple moving average of C$27.04 and a 200-day simple moving average of C$26.56. Laurentian Bank of Canada has a 52 week low of C$24.45 and a 52 week high of C$29.49. The stock has a market capitalization of C$1.29 billion, a P/E ratio of -47.23, a P/E/G ratio of 0.76 and a beta of 1.25.

Laurentian Bank of Canada (TSE:LB) last released its earnings results on Friday, August 30th. The company reported C$0.88 EPS for the quarter, topping analysts’ consensus estimates of C$0.85 by C$0.03. Laurentian Bank of Canada had a negative return on equity of 0.55% and a negative net margin of 1.64%. The company had revenue of C$256.50 million for the quarter, compared to the consensus estimate of C$257.90 million. As a group, analysts expect that Laurentian Bank of Canada will post 3.8414986 earnings per share for the current year.

About Laurentian Bank of Canada

Laurentian Bank of Canada, together with its subsidiaries, provides various financial services to personal, business, and institutional customers in Canada and the United States. It operates through three segments: Personal Banking, Commercial Banking, and Capital Markets. The Personal Banking segment offers financial services, such as financial advisory services to financial intermediaries; and operates digital direct-to-customer platform to retail clients.