Jefferies Financial Group Forecasts Strong Price Appreciation for Laurentian Bank of Canada (TSE:LB) Stock

Key Points

• Jefferies Financial Group has increased its price target for Laurentian Bank of Canada from C$29.00 to C$31.00, suggesting a potential upside of 0.65% from its previous close.
• In total, three analysts rated the stock as a sell while five assigned it a hold rating, showing mixed sentiments among various analysts.
• The stock's current price is C$30.80, with a 52-week range between C$24.37 and C$31.74, indicating its market volatility.

Laurentian Bank of Canada (TSE:LB - Get Free Report) had its price objective upped by stock analysts at Jefferies Financial Group from C$29.00 to C$31.00 in a report issued on Wednesday,BayStreet.CA reports. Jefferies Financial Group's price objective would indicate a potential upside of 0.65% from the company's previous close.

LB has been the subject of a number of other research reports. National Bankshares lifted their target price on shares of Laurentian Bank of Canada from C$25.00 to C$28.00 and gave the stock an "underperform" rating in a research note on Tuesday, June 3rd. Scotiabank lifted their price target on shares of Laurentian Bank of Canada from C$28.00 to C$32.00 and gave the company a "sector perform" rating in a research note on Tuesday, June 3rd. Veritas raised shares of Laurentian Bank of Canada to a "strong sell" rating in a research note on Monday, June 2nd. Raymond James Financial lifted their price target on shares of Laurentian Bank of Canada from C$27.00 to C$28.00 and gave the company a "market perform" rating in a research note on Tuesday, June 3rd. Finally, Desjardins lifted their price target on shares of Laurentian Bank of Canada from C$27.00 to C$29.00 and gave the company a "sell" rating in a research note on Tuesday, June 3rd. Three equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of C$30.29.

Laurentian Bank of Canada Price Performance

TSE LB traded down C$0.10 during mid-day trading on Wednesday, reaching C$30.80. 56,823 shares of the stock were exchanged, compared to its average volume of 186,052. Laurentian Bank of Canada has a one year low of C$24.37 and a one year high of C$31.74. The stock has a 50 day simple moving average of C$30.69 and a 200-day simple moving average of C$28.49. The stock has a market cap of C$1.36 billion, a P/E ratio of -245.65, a P/E/G ratio of 0.76 and a beta of 1.25.

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.

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