Downgrade Alert for Bank of Montreal (BMO)
Bank of Montreal (NYSE:BMO) was downgraded from Buy to Hold at Canaccord Genuity today. The stock closed yesterday at $64.55 on volume of 1.0 million shares, above average daily volume of 555,000.
In the past 52 weeks, Bank of Montreal share prices have been bracketed by a low of $47.54 and a high of $65.61 and closed yesterday at $64.55, 36% 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, 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.
Based on a current price of $64.55, Bank of Montreal is currently 6.9% above its average consensus analyst price target of $60.09. The stock should discover initial support at its 50-day moving average (MA) of $60.68 and subsequent support at its 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