The stock of National Bank of Canada (TSE:NA) hit a new 52-week high and has $69.35 target or 45.00% above today’s $47.83 share price. The 6 months bullish chart indicates low risk for the $16.24 billion company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $69.35 price target is reached, the company will be worth $7.31B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 105,602 shares traded hands. National Bank of Canada (TSE:NA) has risen 15.08% since April 7, 2016 and is uptrending. It has outperformed by 8.93% the S&P500.
National Bank of Canada (TSE:NA) Ratings Coverage
Out of 8 analysts covering National Bank Of Canada (TSE:NA), 4 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 50% are positive. $57 is the highest target while $35 is the lowest. The $49.36 average target is 3.20% above today’s ($47.83) stock price. National Bank Of Canada has been the topic of 38 analyst reports since August 12, 2015 according to StockzIntelligence Inc. On Wednesday, September 21 the stock rating was maintained by Dundee Securities with “Neutral”. Scotia Capital maintained National Bank of Canada (TSE:NA) rating on Thursday, September 1. Scotia Capital has “Outperform” rating and $50 price target. Desjardins Securities maintained National Bank of Canada (TSE:NA) rating on Thursday, September 1. Desjardins Securities has “Hold” rating and $46 price target. The rating was maintained by Scotia Capital with “Sector Perform” on Thursday, August 27. The rating was upgraded by RBC Capital Markets to “Outperform” on Friday, June 3. The firm earned “Hold” rating on Monday, September 19 by TD Securities. The rating was maintained by RBC Capital Markets on Thursday, December 3 with “Sector Perform”. RBC Capital Markets maintained National Bank of Canada (TSE:NA) on Tuesday, September 29 with “Sector Perform” rating. On Wednesday, June 8 the stock rating was maintained by Canaccord Genuity with “Buy”.
More notable recent National Bank of Canada (TSE:NA) news were published by: Theglobeandmail.com which released: “National Bank of Canada in inaugural panda bond sale” on November 04, 2016, also Marketwatch.com with their article: “National Bank of Canada issues its inaugural Panda Bond in Mainland China” published on November 03, 2016, Wsj.com published: “Canada’s National Bank to Cut 600 Jobs” on October 27, 2016. More interesting news about National Bank of Canada (TSE:NA) were released by: Businesswire.com and their article: “Fitch Affirms National Bank of Canada’s Ratings at ‘A+/F1’; Outlook Stable” published on October 28, 2016 as well as Fool.ca‘s news article titled: “Get Rich Slowly With National Bank of Canada” with publication date: October 21, 2016.
National Bank of Canada is an integrated group, which provides financial services to consumers, small- and medium-sized enterprises (SMEs) and large firms in its domestic market and also offers specialized services internationally. The company has a market cap of $16.24 billion.
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