Laurentian Bank of Canada (TSE:LB) Price Target Raised to C$30.00

Key Points

• Desjardins has raised the price target for Laurentian Bank of Canada from C$29.00 to C$30.00, indicating a potential downside risk of 2.60% compared to the stock's prior close.
• Scotiabank and CIBC have also increased their target prices for the bank, with CIBC setting a target of C$33.00, while the consensus rating on the stock is currently a "Hold."
• The stock is currently trading at C$30.80, down 0.3% during the day, with a market capitalization of C$1.36 billion and 12-month trading range between C$24.37 and C$31.74.

Laurentian Bank of Canada (TSE:LB - Get Free Report) had its price target increased by Desjardins from C$29.00 to C$30.00 in a report released on Wednesday,BayStreet.CA reports. The firm presently has a "sell" rating on the stock. Desjardins' price target suggests a potential downside of 2.60% from the stock's previous close.

Several other brokerages also recently weighed in on LB. Scotiabank upped their target price on shares of Laurentian Bank of Canada from C$28.00 to C$32.00 and gave the stock a "sector perform" rating in a research note on Tuesday, June 3rd. CIBC upped their target price on shares of Laurentian Bank of Canada from C$28.00 to C$33.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 3rd. National Bankshares boosted their price target on shares of Laurentian Bank of Canada from C$25.00 to C$28.00 and gave the stock an "underperform" rating in a report on Tuesday, June 3rd. Jefferies Financial Group boosted their price target on shares of Laurentian Bank of Canada from C$29.00 to C$31.00 in a report on Wednesday. Finally, Raymond James Financial boosted their price target on shares of Laurentian Bank of Canada from C$27.00 to C$28.00 and gave the stock a "market perform" rating in a report on Tuesday, June 3rd. Three equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of C$30.29.

Laurentian Bank of Canada Trading Down 0.3%

LB traded down C$0.10 during trading hours on Wednesday, hitting C$30.80. 56,823 shares of the company's stock were exchanged, compared to its average volume of 186,052. Laurentian Bank of Canada has a 12-month low of C$24.37 and a 12-month high of C$31.74. The firm has a 50 day moving average of C$30.69 and a 200 day moving average of C$28.49. The firm has a market cap of C$1.36 billion, a P/E ratio of -245.65, a price-to-earnings-growth ratio of 0.76 and a beta of 1.25.

Laurentian Bank of Canada Company Profile

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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