Royal Bank Raises Price Objective for Bank of Montreal

Bank of Montreal (TSX:BMO) has gained renewed attention after Royal Bank of Canada raised its price objective for the financial institution while maintaining a sector perform rating.

The latest quarterly results showed strength across several business divisions, including Canadian banking operations, U.S. business, wealth management, and capital markets.

However, reported results were affected by a charge associated with the transportation-finance exit.

The diversified business model of Bank of Montreal remains central to its long-term outlook, providing exposure to multiple areas of financial activity across North America.