National Bankshares Issues Pessimistic Forecast for Laurentian Bank of Canada (TSE:LB) Stock Price

Key Points

• National Bankshares has lowered its price target for Laurentian Bank of Canada from C$28.00 to C$27.00, suggesting a potential downside of 12.11% based on its previous close.
• The stock has attracted mixed ratings, with three analysts issuing a "sell" rating and an average price target of C$30.14, indicating that most analysts maintain a "hold" view on the stock.
• As of Friday, Laurentian Bank of Canada shares were trading 1.1% lower, and have shown a 52-week range from a low of C$24.37 to a high of C$31.74.

Laurentian Bank of Canada (TSE:LB - Get Free Report) had its price target decreased by equities research analysts at National Bankshares from C$28.00 to C$27.00 in a research note issued on Friday,BayStreet.CA reports. The brokerage currently has an "underperform" rating on the stock. National Bankshares' price objective suggests a potential downside of 12.11% from the stock's previous close.

A number of other analysts also recently commented on the stock. Veritas upgraded shares of Laurentian Bank of Canada to a "strong sell" rating in a report on Monday, June 2nd. Desjardins increased their price objective on shares of Laurentian Bank of Canada from C$29.00 to C$30.00 and gave the company a "sell" rating in a report on Wednesday. Jefferies Financial Group increased their price objective on shares of Laurentian Bank of Canada from C$29.00 to C$31.00 in a report on Wednesday. Scotiabank increased their price objective 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 report on Tuesday, June 3rd. Finally, Raymond James Financial raised 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 report on Tuesday, June 3rd. Three research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of C$30.14.

Laurentian Bank of Canada Stock Down 1.1%

Shares of LB stock traded down C$0.33 during mid-day trading on Friday, hitting C$30.72. 84,054 shares of the stock were exchanged, compared to its average volume of 185,580. Laurentian Bank of Canada has a 52-week low of C$24.37 and a 52-week high of C$31.74. The firm has a fifty day moving average of C$30.72 and a 200 day moving average of C$28.52. The company has a market cap of C$1.35 billion, a PE ratio of -245.02, 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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