Bank of Montreal Price Target Raised to $230 at RBC
RBC Capital Markets raised its price target on Bank of Montreal (BMO.TO) to $230 from $205 on Thursday.Analyst Darko Mihelic maintained a Sector Perform rating on shares of the Canadian bank following its quarterly results."BMO's Q2/26 results were stronger than expected across most segments, except for Canada," Mihelic said in a note to clients. "We see solid US results and model for better revenue/PPPT growth in that segment.""BMO maintained its stage 3 (impaired) provision for credit loss (PCL) ratio guidance of mid-40s bps for the next few quarters and expects its impaired PCL ratio to improve to mid-30s bps by the end of 2027," the analyst said."We decrease our impaired PCL ratio estimates in 2027 to get closer to this guide as BMO's PCL was better than expected this quarter."