Canadian Imperial Bank of Commerce Forecasts Strong Price Appreciation for National Bank of Canada (TSE:NA) Stock

National Bank of Canada (TSE:NA) had its target price hoisted by equities researchers at Canadian Imperial Bank of Commerce from C$209.00 to C$221.00 in a research note issued on Thursday,BayStreet.CA reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. Canadian Imperial Bank of Commerce’s price target points to a potential upside of 8.50% from the company’s current price.

A number of other equities analysts have also recently issued reports on the company. National Bank Financial increased their target price on National Bank of Canada from C$183.00 to C$196.00 in a report on Thursday, March 5th. Barclays raised their price objective on National Bank of Canada from C$177.00 to C$183.00 and gave the company an “equal weight” rating in a report on Thursday, February 26th. Desjardins raised their price objective on National Bank of Canada from C$215.00 to C$217.00 and gave the company a “buy” rating in a report on Thursday. Scotiabank raised their price objective on National Bank of Canada from C$202.00 to C$214.00 and gave the company a “sector outperform” rating in a report on Monday, May 4th. Finally, TD Securities raised their price objective on National Bank of Canada from C$175.00 to C$182.00 in a report on Thursday, February 26th. Three analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, National Bank of Canada presently has an average rating of “Hold” and an average price target of C$198.42.

National Bank of Canada Price Performance

NA stock traded down C$0.21 during trading hours on Thursday, reaching C$203.69. 821,687 shares of the stock were exchanged, compared to its average volume of 1,462,861. The firm’s 50-day moving average is C$196.64 and its 200-day moving average is C$180.97. The company has a market cap of C$78.85 billion, a price-to-earnings ratio of 19.64, a PEG ratio of 7.14 and a beta of 1.30. National Bank of Canada has a 12 month low of C$132.72 and a 12 month high of C$214.78.

National Bank of Canada (TSE:NA) last released its earnings results on Wednesday, May 27th. The financial services provider reported C$3.23 earnings per share (EPS) for the quarter. The firm had revenue of C$3.91 billion during the quarter. National Bank of Canada had a return on equity of 12.83% and a net margin of 15.85%. As a group, equities research analysts forecast that National Bank of Canada will post 10.8360791 earnings per share for the current year.

National Bank of Canada Company Profile

National Bank of Canada is the sixth-largest Canadian bank. The bank offers integrated financial services, primarily in the province of Quebec as well as the city of Toronto. Operational segments include personal and commercial banking, wealth management, and a financial markets group.