The stock of National Bank of Canada (TSE:NA) hit a new 52-week high and has $54.36 target or 8.00% above today’s $50.33 share price. The 6 months bullish chart indicates low risk for the $17.08 billion company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $54.36 price target is reached, the company will be worth $1.37B 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 174,412 shares traded hands. National Bank of Canada (TSE:NA) has risen 11.20% since April 27, 2016 and is uptrending. It has outperformed by 5.28% the S&P500.
National Bank of Canada (TSE:NA) Ratings Coverage
Out of 7 analysts covering National Bank Of Canada (TSE:NA), 3 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 43% are positive. $57 is the highest target while $35 is the lowest. The $50.18 average target is -0.30% below today’s ($50.33) stock price. National Bank Of Canada has been the topic of 39 analyst reports since August 12, 2015 according to StockzIntelligence Inc. As per Thursday, September 1, the company rating was maintained by Scotia Capital. Canaccord Genuity maintained the stock with “Buy” rating in Wednesday, June 8 report. The firm has “Sector Perform” rating given on Tuesday, September 29 by RBC Capital Markets. The stock of National Bank of Canada (TSE:NA) has “Outperform” rating given on Friday, June 3 by RBC Capital Markets. The rating was maintained by Scotia Capital on Thursday, August 27 with “Sector Perform”. Desjardins Securities maintained National Bank of Canada (TSE:NA) on Thursday, September 1 with “Hold” rating. The firm has “Hold” rating by TD Securities given on Monday, September 19. RBC Capital Markets maintained the shares of NA in a report on Thursday, December 3 with “Sector Perform” rating. As per Wednesday, September 21, the company rating was maintained by Dundee Securities.
More recent National Bank of Canada (TSE:NA) news were published by: Fool.ca which released: “3 Simple Reasons Investors Should Buy National Bank of Canada” on November 16, 2016. Also Prnewswire.com published the news titled: “Lending Club Secures $1.3 Billion Purchase Program from National Bank of …” on November 07, 2016. Law360.com‘s news article titled: “National Bank Of Canada Issues Its First-Ever Panda Bonds” with publication date: November 04, 2016 was also an interesting one.
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 $17.08 billion.
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