Price Targets for Cdn Banks

Bank of Montreal
• BMO Nesbitt Burn maintains "market perform," 12-month target price is $70.00
• CIBC World Markets maintains "sector perform," 12-month target price is $67.00
• Desjardins Securities maintains "buy," 12-month target price is $75.50
• Dundee Securities maintains "neutral," 12-month target price is $71.00
• National Bank Financial maintains "underperform," 12-month target price is $67.00
• RBC Capital Markets maintains "sector underperform," 12-month target price is reduced to $64.00 from $67.00
• Scotia Capital maintains "sector underperform," 12-month target price is $72.00
• TD Newcrest maintains "hold," 12-month target price is reduced to $66.00 from $72.00
• UBS maintains "hold," 12-month target price is $70.00

Bank of Nova Scotia
• BMO Nesbitt Burns upgrades to "outperform," 12-month target price is increased to $51.00 from $50.00
• CIBC World Markets maintains "sector perform," 12-month target price is $49.00
• Credit Suisse downgrades to "neutral,"
• Desjardins Securities maintains "top pick," 12-month target price is $53.50
• National Bank Financial upgrades to "sector perform," 12-month target price is $48.00
• RBC Capital Markets maintains "sector perform," 12-month target price is reduced to $49.00 from $51.00
• Scotia Capital maintains "sector perform," 12-month target price is $53.00
• TD Newcrest upgrades to "action list buy," 12-month target price is raised to $51.00 from $49.00
• UBS upgrades to "buy," 12-month target price is $54.00

Canadian Imperial Bank of Commerce
• Desjardins Securities maintains "buy," 12-month target price is $96.50
• Dundee Securities maintains "neutral," 12-month target price is raised to $88.00
• National Bank Financial maintains "outperform," 12-month target price is $95.00
• RBC Capital Markets maintains "sector perform," 12-month target price is $85.00
• Scotia Capital maintains "sector underperform," 12-month target price is $85.00
• TD Newcrest maintains "hold," 12-month target price is reduced to $86.00 from $88.00
• UBS maintains "neutral," 12-month target price is reduced to $92.00 from $94.00

National Bank of Canada
• BMO Nesbitt Burns maintains "outperform," 12-month target price is $70.00
• Dundee Securities maintains "outperform," 12-month target price is $68.00
• RBC Capital Markets upgrades to "outperform," 12-month target price is raised to $68.00 from $66.00
• Scotia Capital maintains "sector perform," 12-month target price is $72.00
• TD Newcrest maintains "buy," 12-month target price is $71.00

Royal Bank of Canada
• BMO Nesbitt Burns maintains "market perform," 12-month target price is $52.00
• CIBC World Markets maintains "sector perform," 12-month target price is $52.00
• Credit Suisse upgrades to "outperform,"
• Desjardins Securities maintains "hold," 12-month target price is $54.50
• Dundee Securities maintains "outperform," 12-month target price is $53.50
• RBC Capital Markets maintains "outperform," 12-month target price is raised to $55.00 from $53.50
• Scotia Capital maintains "sector outperform," 12-month target price is $58.00
• TD Newcrest upgrades to "action list buy," 12-month target price is $53.00
• UBS upgrades to "buy," 12-month target price is $55.00

Toronto-Dominion Bank
• BMO Nesbitt Burns maintains "outperform," 12-month target price is reduced to $70.00 from $71.00
• CIBC World Markets maintains "sector outperform," 12-month target price is reduced to $71.00 from $72.00
• Desjardins Securities maintains "top pick," 12-month target price is $73.50
• Dundee Securities maintains "outperform," 12-month target price is $70.00
• National Bank Financial maintains "outperform," 12-month target price is reduced to $70.00 from $71.00
• RBC Capital Markets maintains "outperform," 12-month target price is reduced to $70.00 from $72.00
• Scotia Capital maintains "sector outperform," 12-month target price is $75.00
• UBS upgrades to "buy," 12-month target price is $75.00

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