BUZZ-Bank of Montreal rises after RBC upgrades to 'outperform'
** Shares of Canadian lender Bank of Montreal BMO.TO rise as much as 2.3%; last up 1.7% at C$141.42
** RBC upgrades BMO to "outperform" from "sector perform"; raises PT to C$161 from C$133, a 15.7% upside to the stock's last close
** Brokerage believes BMO is likely past its credit concerns with the stage set for moderating loan loss provisions in 2025 and 2026
** BMO has faced credit issues as some loan books weakened due to clients struggling to repay their loans
** RBC expects 2025 to be a transitional year for Canadian banks with 2026 showing a better representation of "normal" earnings power
** More favorable landscape in 2026 including a stabilizing Canadian economy and peaking credit losses - RBC
** Eight of 16 brokerages rate the stock "buy" and eight "hold"; median PT C$143, according to data compiled by LSEG
** BMO stock rose 6.4% in 2024
($1 = 1.4396 Canadian dollars)
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))
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