CIBC CIBC World Markets’ Paul Holden was the latest equity analyst on the Street to reduce target prices for Canadian bank stocks ahead of the start of quarterly earnings season on Thursday.
His changes are:
* Bank of Montreal ( “neutral”) to $120 from $134. The average target on the Street is $131.02.
* Bank of Nova Scotia ( “neutral”) to $64 from $71. Average: $69.52.
* Canadian Western Bank ( “neutral”) to $26 from $27. Average: $29.08.
* Laurentian Bank of Canada ( “outperformer”) to $54 from $60. Average: $43.85.
* National Bank of Canada ( “outperformer”) to $106 from $108. Average: $104.91.
* Royal Bank of Canada ( “neutral”) to $129 from $139. Average: $135.88.
* Toronto-Dominion Bank ( “outperformer”) to $92 from $94. Average: $93.16.