Bank of Montreal price target lowered to C$123 from C$129 at Scotiabank

Scotiabank analyst Meny Grauman lowered the firm’s price target on Bank of Montreal to C$123 from C$129 and keeps an Outperform rating on the shares. Economics indicators are increasingly taking a “back seat” to company specific developments when it comes to driving relative share performance across the Canadian Banks sector, the analyst tells investors.