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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