CIBC Boosts Laurentian Bank of Canada (TSE:LB) Price Target to C$31.00

Laurentian Bank of Canada (TSE:LB) had its price objective boosted by stock analysts at CIBC from C$28.00 to C$31.00 in a research note issued on Tuesday,BayStreet.CA reports. CIBC’s price objective indicates a potential upside of 5.48% from the company’s previous close.

Several other equities analysts also recently issued reports on LB. Desjardins raised their price target on shares of Laurentian Bank of Canada from C$25.00 to C$26.00 and gave the company a “sell” rating in a research note on Tuesday, August 6th. Scotiabank raised their target price on Laurentian Bank of Canada from C$26.00 to C$30.00 in a research report on Monday. Raymond James upped their price target on Laurentian Bank of Canada from C$26.00 to C$27.00 in a research report on Wednesday, September 4th. BMO Capital Markets raised their price target on shares of Laurentian Bank of Canada from C$27.00 to C$28.00 in a report on Monday, November 18th. Finally, Cibc World Mkts raised Laurentian Bank of Canada to a “hold” rating in a research note on Wednesday, August 21st. Three research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of C$27.10.

Laurentian Bank of Canada Price Performance

LB stock opened at C$29.39 on Tuesday. The stock has a market cap of C$1.29 billion, a price-to-earnings ratio of -47.15, a P/E/G ratio of 0.76 and a beta of 1.25. The company has a 50 day simple moving average of C$27.13 and a 200 day simple moving average of C$26.61. Laurentian Bank of Canada has a 1 year low of C$24.45 and a 1 year high of C$29.55.

Laurentian Bank of Canada (TSE:LB) last announced its quarterly earnings results on Friday, August 30th. The company reported C$0.88 EPS for the quarter, beating 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 firm had revenue of C$256.50 million for the quarter, compared to analyst estimates of C$257.90 million. On average, equities research analysts anticipate that Laurentian Bank of Canada will post 3.8414986 EPS for the current fiscal 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.