July 18, 2018 / 10:41 AM / 10 months ago

BUZZ-Bank of Montreal: RBC upgrades rating to "outperform" on outlook, valuation

** RBC upgrades Bank of Montreal to “outperform,” on solid earnings growth for the bank vs. peers, risk profile and valuation

** RBC says BMO’s relative valuation attractive and views its risk profile favorably in context of some concern regarding housing in Canada and other macro risks

** Amongst the large Canadian banks, RBC forecasts BMO to deliver strongest EPS growth in 2019 and 2020

** Broker says BMO, Canada’s fourth-biggest lender, has relatively smaller exposure to Canada P&C versus peers

** “Valuation has room for improvement” - BMO; raises PT on BMO stock to C$124 from C$120

** 9 of 14 brokerages rate the stock “buy” or higher, 5 “hold”; their median PT is C$109

** Up to Tuesday’s close, stock had risen ~3.06 pct YTD vs. a 0.23 pct decline in the NYSE Composite index (Reporting by Devbrat Saha in Bengaluru)

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