Bank of Montreal Analysts Boost Their Forecasts After Q3 Results

Core Insights - Bank of Montreal (BMO) reported better-than-expected third-quarter financial results, with earnings of $2.35 per share, surpassing the analyst consensus estimate of $2.12 per share [1] - The company achieved sales of $6.542 billion in the quarter, indicating strong revenue performance [1] Financial Performance - BMO demonstrated strong earnings growth, effective expense management, and positive operating leverage, particularly in its U.S. businesses [2] - The CEO highlighted improvements in credit performance and profitability as key drivers of the company's success [2] Stock Market Reaction - Following the earnings announcement, BMO shares experienced a slight decline of 0.2%, closing at $119.16 [2] Analyst Ratings and Price Targets - RBC Capital analyst Darko Mihelic maintained an Outperform rating for BMO and raised the price target from C$161 to C$168 [7] - Scotiabank analyst Mike Rizvanovic also maintained the stock with a Sector Perform rating, increasing the price target from C$148 to C$160 [7]