RBC Capital analyst Darko Mihelic upgraded Bank of Montreal (BMO) to Outperform from Sector Perform with a C$161 price target up from C$133 prior. The company is likely past its credit concerns, and the firm is seeing more upside to the stock’s valuation, the analyst tells investors in a research note. Bank of Montreal offers the highest return to target among the large Canadian banks in RBC’s coverage, the firm adds, also noting it is rolling forward its valuation models to 2026 EPS estimates.
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