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Downgrade Alert for Bank of Montreal (BMO)

By Shiri Gupta

Bank of Montreal (NYSE:BMO) was downgraded from Neutral to Underperform at Credit Suisse today. The stock closed yesterday at $63.90 on volume of 2.1 million shares, above average daily volume of 555,000.

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.

In the past 52 weeks, Bank of Montreal share prices have been bracketed by a low of $47.54 and a high of $67.69 and closed yesterday at $63.90, 34% above that low price. The 200-day and 50-day moving averages have moved 0.21% higher and 1.33% higher over the past week, respectively.

Bank of Montreal (NYSE:BMO) is currently priced 6.0% above its average consensus analyst price target of $60.09. Bank of Montreal shares have support at the 50-day moving average (MA) of $60.68 and additional support at the 200-day MA of $56.48.

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