Barclays Lowers Laurentian Bank of Canada (LB) Price Target to C$49.00

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Laurentian Bank of Canada (TSE:LB) had its price objective reduced by equities research analysts at Barclays from C$52.00 to C$49.00 in a report issued on Wednesday. Barclays’ target price would suggest a potential upside of 14.33% from the stock’s previous close.

LB has been the topic of a number of other research reports. CIBC lowered Laurentian Bank of Canada from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from C$55.00 to C$49.00 in a report on Wednesday, May 30th. Cormark increased their price objective on Laurentian Bank of Canada from C$52.00 to C$53.00 in a report on Monday, June 4th. Scotiabank decreased their target price on Laurentian Bank of Canada from C$54.00 to C$52.00 and set a “sector perform” rating for the company in a research note on Monday, June 4th. TD Securities decreased their target price on Laurentian Bank of Canada from C$58.00 to C$55.00 and set a “buy” rating for the company in a research note on Monday, June 4th. Finally, Royal Bank of Canada increased their target price on Laurentian Bank of Canada from C$55.00 to C$56.00 and gave the company a “sector perform” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of C$50.91.

Shares of TSE LB opened at C$42.86 on Wednesday. Laurentian Bank of Canada has a 52 week low of C$42.75 and a 52 week high of C$62.90.

Laurentian Bank of Canada (TSE:LB) last issued its quarterly earnings data on Tuesday, September 4th. The company reported C$1.34 EPS for the quarter, missing the Zacks’ consensus estimate of C$1.47 by C($0.13). The company had revenue of C$260.66 million for the quarter, compared to analyst estimates of C$267.51 million. Laurentian Bank of Canada had a net margin of 21.88% and a return on equity of 11.79%.

About Laurentian Bank of Canada

Laurentian Bank of Canada, together with its subsidiaries, provides banking services to individuals, small and medium-sized enterprises, and independent advisors in Canada and the United States. It operates through four segments: Retail Services, Business Services, B2B Bank, and Capital Markets. The company offers transactional products and current accounts, term deposits, and investment accounts; personal line of credit, personal loans, student loans, and registered retirement savings plans; financing for agriculture, real estate, and commercial industries, as well as small and medium-sized enterprises; mortgage solutions, such as variable-rate mortgage, fixed-rate mortgage, equity line of credit, mortgage insurance, and retirement line of credit; and credit and business cards, as well as equipment finance and leasing solutions.

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Analyst Recommendations for Laurentian Bank of Canada (TSE:LB)

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