Desjardins Forecasts Strong Price Appreciation for National Bank of Canada (TSE:NA) Stock

National Bank of Canada (TSE:NA) had its target price increased by analysts at Desjardins from C$180.00 to C$182.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The firm presently has a “buy” rating on the financial services provider’s stock. Desjardins’ price target points to a potential upside of 5.97% from the company’s current price.

A number of other equities research analysts have also recently issued reports on NA. Canadian Imperial Bank of Commerce boosted their target price on shares of National Bank of Canada from C$174.00 to C$179.00 and gave the company a “neutral” rating in a research report on Thursday, December 11th. Jefferies Financial Group lowered their target price on shares of National Bank of Canada from C$153.00 to C$152.00 and set a “hold” rating on the stock in a report on Tuesday, November 25th. Scotiabank boosted their price target on National Bank of Canada from C$184.00 to C$188.00 in a research note on Friday, January 9th. Raymond James Financial raised their price objective on National Bank of Canada from C$168.00 to C$173.00 and gave the stock a “market perform” rating in a research note on Thursday, December 4th. Finally, Canaccord Genuity Group increased their target price on National Bank of Canada from C$160.00 to C$166.00 in a report on Thursday, December 4th. Three analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of C$165.83.

National Bank of Canada Stock Up 1.6%

Shares of TSE NA traded up C$2.67 during mid-day trading on Monday, reaching C$171.74. 388,346 shares of the company were exchanged, compared to its average volume of 1,522,508. The stock has a market capitalization of C$67.03 billion, a P/E ratio of 17.05, a P/E/G ratio of 7.14 and a beta of 1.05. The company’s 50-day simple moving average is C$170.73 and its 200-day simple moving average is C$158.56. National Bank of Canada has a twelve month low of C$106.67 and a twelve month high of C$177.54.

National Bank of Canada (TSE:NA) last issued its quarterly earnings data on Wednesday, December 3rd. The financial services provider reported C$2.82 earnings per share (EPS) for the quarter. The firm had revenue of C$3.70 billion during the quarter. National Bank of Canada had a net margin of 19.69% and a return on equity of 15.43%. As a group, equities research analysts expect that National Bank of Canada will post 10.8360791 EPS for the current year.

About National Bank of Canada

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.