,,,,,,,,,,,$35 Target Price with OutPerform Rating......... Looks like BMO is STILL Enamoured with the OutLOOK for CWB eh !!!
BMO Capital's Take on CWB's Investor Day
12/08/2022 (MT Newswires) -- CWB management hosted an investor day to provide a status update on the transformation progress made over the past few years (expansion into Ontario, digital capabilities, branch-based deposits, wealth acquisitions, and AIRB development).
The bank reiterated its guidance for 2023/2024 and outlined a path to become "at least a 12% ROE bank" by 2024, driven by higher revenues (NIM and loan growth driven), lower NIX (organic slowdown from reduced strategic spending), and capital optimization levers (CAR23 tailwinds).
BMO Capital's estimates, $35 target price, and Outperform rating remain unchanged.