Desjardins Issues Positive Forecast for National Bank of Canada (TSE:NA) Stock Price

Key Points

• Desjardins raised its target price for National Bank of Canada from C$200 to C$215 and kept a "buy" rating, implying roughly a 5.19% upside from the prior close.
• Several other brokers raised targets (BMO, CIBC, TD, Barclays) while RBC cut its target, yet the MarketBeat consensus remains a "Hold" with a consensus target of C$193.50.
• The stock traded at C$204.40 (up 0.8%) near a 52‑week high, with a market cap of C$79.13B, a P/E of 19.71 and recent quarterly EPS of C$3.25, meaning the share price is above the consensus target.

National Bank of Canada (TSE:NA - Get Free Report) had its target price upped by equities researchers at Desjardins from C$200.00 to C$215.00 in a research note issued on Tuesday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the financial services provider's stock. Desjardins' price target suggests a potential upside of 5.19% from the company's previous close.

Several other equities research analysts have also recently issued reports on the stock. BMO Capital Markets lifted their price objective on shares of National Bank of Canada from C$177.00 to C$195.00 and gave the stock an "outperform" rating in a research report on Thursday, February 26th. Canadian Imperial Bank of Commerce lifted their price objective on shares of National Bank of Canada from C$189.00 to C$193.00 in a research report on Thursday, February 26th. TD Securities lifted their price objective on shares of National Bank of Canada from C$175.00 to C$182.00 in a research report on Thursday, February 26th. Royal Bank Of Canada reduced their price target on shares of National Bank of Canada from C$193.00 to C$180.00 and set a "sector perform" rating for the company in a research report on Wednesday, March 25th. Finally, Barclays boosted their price target on shares of National Bank of Canada from C$177.00 to C$183.00 and gave the company an "equal weight" rating in a research report on Thursday, February 26th. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of C$193.50.

National Bank of Canada Stock Up 0.8%

NA stock traded up C$1.56 during midday trading on Tuesday, hitting C$204.40. The company's stock had a trading volume of 226,414 shares, compared to its average volume of 1,519,222. National Bank of Canada has a 52-week low of C$121.94 and a 52-week high of C$206.16. The firm has a market capitalization of C$79.13 billion, a P/E ratio of 19.71, a PEG ratio of 7.14 and a beta of 1.23. The firm has a 50-day simple moving average of C$189.16 and a 200-day simple moving average of C$174.63.

National Bank of Canada (TSE:NA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The financial services provider reported C$3.25 EPS for the quarter. The company had revenue of C$3.89 billion during the quarter. National Bank of Canada had a net margin of 15.85% and a return on equity of 12.83%. On average, sell-side analysts expect that National Bank of Canada will post 10.8360791 earnings per share for the current fiscal year.

National Bank of Canada Company Profile

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.

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