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Downgrade Alert for Bank of Montreal (BMO)

By Amy Schwartz

Bank of Montreal (NYSE:BMO) was downgraded from Buy to Neutral at Citigroup today. The stock closed yesterday at $73.69 on volume of 718,000 shares, above average daily volume of 563,000.

Bank of Montreal share prices have moved between a 52-week high of $78.56 and a 52-week low of $60.34 and closed yesterday at 22% above that low price at $73.69 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has declined 0.4%.

Bank of Montreal (NYSE:BMO) has potential upside of 6.0% based on a current price of $73.69 and analysts' consensus price target of $78.09. Bank of Montreal shares have support at the 50-day moving average (MA) of $72.92 and additional support at the 200-day MA of $71.42.

Bank of Montreal, doing business as BMO Financial Group, is a Canadian chartered bank which operates throughout the world. The Bank offers commercial, corporate, governmental, international, personal banking, and trust services. Bank of Montreal also offers full brokerage, underwriting, investment, and advisory services.

SmarTrend is tracking the current trend status for Bank of Montreal and will alert subscribers who have BMO in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades Bank of Montreal

Ticker(s): BMO