Laurentian Bank of Canada Receives 'Reduce' Recommendation from Analysts

Analysts covering Laurentian Bank of Canada (TSE:LB) have issued an average recommendation to 'Reduce' the stock, Marketbeat Ratings reports. Four brokerages are currently providing coverage for the bank, with two recommending a sell and two holding a hold rating.

The 12-month target price among analysts is C$36.50, based on ratings from the past year. However, one analyst at Desjardins set a higher target of C$40.50 and gave the stock a 'tender' rating in a research note on Wednesday.

Shares of LB traded down C$0.02 to C$40.27 during trading hours on Wednesday, with 88,369 shares exchanged compared to its average volume of 182,584. The bank has a market cap of C$1.80 billion and a price-to-earnings ratio of 129.90.