BMO Capital Markets Stock Recommendations and Price Targets

BMO Capital Markets is the investment banking and capital markets arm of Bank of Montreal, aka BMO Financial Group. It serves corporate, institutional, and government clients in North America, providing equity and debt underwriting, corporate lending and project finance, M&A advisory, and equity and debt research. The company has more than 25 offices worldwide; about half are in North America. BMO Capital Markets was formed in 2006 when BMO Financial combined its US, Canadian, and international wholesale banking operations.

This is a list of recent ratings by BMO Capital Markets.

Date	Company Name	Action	Current Price	Price Target	Rating	Impact on Share Price
6/24/2021	EMP.A Empire	Lower Price Target	C$39.00	C$47.00 ➝ C$45.00	Market Perform	N/A
6/24/2021	INFO IHS Markit	Boost Price Target	$113.00	$110.00 ➝ $121.00	Market Perform	High
6/23/2021	KGC Kinross Gold	Lower Price Target	$6.00	$13.00 ➝ $11.50	Outperform	Low
6/23/2021	EQX Equinox Gold	Lower Price Target	C$7.00	C$20.00 ➝ C$18.50	Outperform	N/A
6/23/2021	ATGFF AltaGas	Boost Price Target	C$21.00	C$27.00 ➝ C$29.00	Outperform	Low
6/23/2021	SPLK Splunk	Boost Price Target	$140.00	$144.00 ➝ $148.00	Outperform	Medium
6/22/2021	LUNMF Lundin Mining	Lower Price Target	C$9.00	C$17.00 ➝ C$16.00	Outperform	Medium
6/22/2021	ARESF Artis Real Estate Investment Trust	Boost Price Target	C$9.00	C$12.50 ➝ C$13.00	Outperform	Medium
6/22/2021	LUN Lundin Mining	Lower Price Target	C$11.00	C$17.00 ➝ C$16.00	Outperform	N/A
6/22/2021	AX.UN Artis Real Estate Investment Trust Unit	Boost Price Target	C$11.00	C$12.50 ➝ C$13.00		N/A
6/22/2021	SMMCF Summit Industrial Income REIT	Boost Price Target	C$14.00	C$16.75 ➝ C$18.50	Outperform	Low
6/22/2021	NOA North American Construction Group	Boost Price Target	C$17.00	C$21.00 ➝ C$24.00	Outperform	Low
6/22/2021	NOA North American Construction Group	Boost Price Target	C$21.00	C$21.00 ➝ C$24.00	Outperform	N/A
6/22/2021	CCCC C4 Therapeutics	Boost Price Target	$37.00	$53.00 ➝ $55.00	Outperform	Medium
6/22/2021	NTR Nutrien	Boost Price Target	$61.00		Outperform	N/A
6/21/2021	CR Crew Energy	Boost Price Target	C$2.00	C$1.50 ➝ C$1.75	NA	N/A
6/21/2021	BTE Baytex Energy	Boost Price Target	C$2.00	C$1.75 ➝ C$2.75	NA	N/A
6/21/2021	TVE Tamarack Valley Energy	Boost Price Target	C$3.00	C$2.75 ➝ C$3.00	NA	N/A
6/21/2021	CNNEF Canacol Energy	Downgrade	$3.00		Outperform ➝ Market Perform	Low
6/21/2021	KEL Kelt Exploration	Boost Price Target	C$3.00	C$4.00 ➝ C$4.50	NA	N/A
6/21/2021	NVA NuVista Energy	Boost Price Target	C$4.00	C$3.50 ➝ C$4.00	NA	N/A
6/21/2021	OBE Obsidian Energy	Boost Price Target	C$4.00	C$1.50 ➝ C$2.50	NA	N/A
6/21/2021	BIR Birchcliff Energy	Boost Price Target	C$4.00	C$4.25 ➝ C$5.00	NA	N/A
6/21/2021	AAV Advantage Oil & Gas	Boost Price Target	C$4.00	C$4.25 ➝ C$5.50	NA	N/A
6/21/2021	BNE Bonterra Energy	Boost Price Target	C$6.00	C$3.00 ➝ C$4.50	NA	N/A
6/21/2021	SDE Spartan Delta	Boost Price Target	C$6.00	C$5.50 ➝ C$6.50		N/A
6/21/2021	CPG Crescent Point Energy	Boost Price Target	C$6.00	C$7.00 ➝ C$8.00	NA	N/A
6/21/2021	WCP Whitecap Resources	Boost Price Target	C$6.00	C$8.00 ➝ C$9.00	NA	N/A
6/21/2021	PEY Peyto Exploration & Development	Boost Price Target	C$7.00	C$6.50 ➝ C$7.50	NA	N/A
6/21/2021	ERF Enerplus	Boost Price Target	C$9.00	C$9.00 ➝ C$11.00	NA	N/A
6/21/2021	MEG MEG Energy	Boost Price Target	C$9.00	C$10.00 ➝ C$14.00	NA	N/A
6/21/2021	FRU Freehold Royalties	Boost Price Target	C$10.00	C$10.00 ➝ C$11.00	NA	N/A
6/21/2021	ARX ARC Resources	Boost Price Target	C$10.00	C$12.00 ➝ C$14.00	NA	N/A
6/21/2021	NWHUF NorthWest Healthcare Properties Real Estate Investment Trust	Boost Price Target	C$11.00	C$13.75 ➝ C$14.50	Market Perform	High
6/21/2021	VET Vermilion Energy	Boost Price Target	C$11.00	C$12.00 ➝ C$12.50	NA	N/A
6/21/2021	CVE Cenovus Energy	Boost Price Target	C$12.00	C$14.00 ➝ C$16.00	NA	N/A
6/21/2021	NWH.UN NorthWest Health Prop Real Est Inv Trust	Boost Price Target	C$13.00	C$13.75 ➝ C$14.50	Market Perform	N/A
6/21/2021	PSK PrairieSky Royalty	Boost Price Target	C$16.00	C$18.00 ➝ C$19.00	NA	N/A
6/21/2021	REVG REV Group	Reiterated Rating	$16.00	$19.00	Hold	Low
6/21/2021	POU Paramount Resources	Boost Price Target	C$17.00	C$17.00 ➝ C$19.00	NA	N/A
6/21/2021	SU Suncor Energy	Boost Price Target	C$31.00	C$37.00 ➝ C$39.00	NA	N/A
6/21/2021	TOU Tourmaline Oil	Boost Price Target	C$33.00	C$40.00 ➝ C$41.00	NA	N/A
6/21/2021	IMO Imperial Oil	Reiterated Rating	$32.00		Hold	N/A
6/21/2021	IMO Imperial Oil	Boost Price Target	C$40.00	C$40.00 ➝ C$45.00	NA	N/A
6/21/2021	CNQ Canadian Natural Resources	Boost Price Target	C$45.00	C$52.00 ➝ C$59.00	NA	N/A
6/21/2021	TMXXF TMX Group	Initiated Coverage	$107.00		Market Perform	Low
6/21/2021	X TMX Group	Initiated Coverage	C$133.00		MARKET PERFORM	N/A
6/21/2021	EQIX Equinix	Boost Price Target	$779.00	$850.00 ➝ $910.00	Outperform	Low
6/18/2021	PSFE Paysafe	Initiated Coverage	$11.00	$15.00	Outperform	High
6/18/2021	NHI National Health Investors	Upgrade	$69.00	$71.00	Underperform ➝ Market Perform	High
6/18/2021	ADBE Adobe	Boost Price Target	$578.00	$585.00 ➝ $630.00	Outperform	Medium
6/17/2021	TORXF Torex Gold Resources	Lower Price Target	C$12.00	C$29.00 ➝ C$28.00	Outperform	Low
6/17/2021	TXG Torex Gold Resources	Lower Price Target	C$15.00	C$29.00 ➝ C$28.00	Hold	N/A
6/17/2021	CNC Centene	Boost Price Target	$73.00	$88.00 ➝ $93.00	Positive ➝ Outperform	High
6/16/2021	FIL Filo Mining	Boost Price Target	C$10.00	C$11.00 ➝ C$13.00		N/A
6/16/2021	ATUSF Altius Minerals	Initiated Coverage	$14.00		Market Perform	Low
6/16/2021	ALS Altius Minerals	Reiterated Rating	C$17.00	C$20.00	Market Perform	N/A
6/16/2021	MI.UN Minto Apartment Real Estate Invt Trust	Boost Price Target	C$24.00	C$23.00 ➝ C$24.50		N/A
6/16/2021	ATZAF Aritzia	Boost Price Target	C$29.00	C$39.00 ➝ C$40.00	Outperform	Low
6/16/2021	NPIFF Northland Power	Boost Price Target	$33.00		Market Perform	N/A
6/16/2021	ATZ Aritzia	Boost Price Target	C$36.00	C$39.00 ➝ C$40.00	Outperform	N/A
6/16/2021	NPI Northland Power	Boost Price Target	C$41.00	C$42.00 ➝ C$43.00	Outperform	N/A
6/16/2021	SAGE Sage Therapeutics	Lower Price Target	$57.00	$87.00 ➝ $73.00	Positive ➝ Market Perform	High
6/16/2021	ORCL Oracle	Boost Price Target	$78.00	$79.00 ➝ $88.00	Positive ➝ Market Perform	Medium
6/15/2021	FINGF Finning International	Boost Price Target	C$27.00	C$34.00 ➝ C$35.00	Market Perform	Medium
6/15/2021	FTT Finning International	Boost Price Target	C$33.00	C$34.00 ➝ C$35.00	Market Perform	N/A
6/15/2021	BMO Bank of Montreal	Boost Price Target	C$104.00	C$136.00 ➝ C$139.00	Outperform	Low
6/15/2021	JPM JPMorgan Chase & Co.	Lower Price Target	$153.00		Market Perform	N/A
6/14/2021	RROTF Roots	Boost Price Target	C$3.00	C$4.00 ➝ C$4.50	Market Perform	Low
6/14/2021	ROOT Roots	Boost Price Target	C$4.00	C$4.00 ➝ C$4.50	Market Perform	N/A
6/14/2021	CCRN Cross Country Healthcare	Boost Price Target	$17.00	$17.00 ➝ $20.00	Outperform	Low
6/14/2021	SNCAF SNC-Lavalin Group	Boost Price Target	C$27.00	C$31.00 ➝ C$33.00	Market Perform	Low
6/14/2021	TRMLF Tourmaline Oil	Boost Price Target	C$27.00	C$38.00 ➝ C$40.00	Outperform	Low
6/14/2021	SNC SNC-Lavalin Group	Boost Price Target	C$34.00	C$31.00 ➝ C$33.00	Market Perform	N/A
6/14/2021	TOU Tourmaline Oil	Boost Price Target	C$33.00	C$38.00 ➝ C$40.00	Market Perform	N/A
6/11/2021	IVPAF Ivanhoe Mines	Boost Price Target	C$7.00	C$10.00 ➝ C$15.00	Outperform	Low
6/11/2021	IVN Ivanhoe Mines	Boost Price Target	C$9.00	C$10.00 ➝ C$15.00	Outperform	N/A
6/11/2021	GEF Greif	Boost Price Target	$61.00	$64.00 ➝ $68.00	In-Line ➝ Outperform	High
6/10/2021	ESI Ensign Energy Services	Boost Price Target	C$2.00	C$1.40 ➝ C$2.00	NA	N/A
6/10/2021	TCW Trican Well Service	Boost Price Target	C$3.00	C$3.00 ➝ C$3.25	NA	N/A
6/10/2021	PHX PHX Energy Services	Boost Price Target	C$4.00	C$4.25 ➝ C$5.50	Market Perform ➝ NA	N/A
6/10/2021	BDI Black Diamond Group	Boost Price Target	C$4.00	C$5.00 ➝ C$5.50	NA	N/A
6/10/2021	TOT Total Energy Services	Boost Price Target	C$5.00	C$4.75 ➝ C$5.50	NA	N/A
6/10/2021	TCLAF Transcontinental	Boost Price Target	C$19.00	C$21.00 ➝ C$24.00	Market Perform	High
6/10/2021	TCL.A Transcontinental	Boost Price Target	C$24.00	C$21.00 ➝ C$24.00		N/A
6/10/2021	SAP Saputo	Boost Price Target	C$37.00	C$41.00 ➝ C$42.00	Market Perform ➝ NA	N/A
6/10/2021	PD Precision Drilling	Boost Price Target	C$50.00	C$45.00 ➝ C$55.00	NA	N/A
6/10/2021	UPS United Parcel Service	Boost Price Target	$206.00		Market Perform	N/A
6/10/2021	CASY Casey's General Stores	Boost Price Target	$195.00	$185.00 ➝ $200.00	Neutral ➝ Market Perform	Low
6/9/2021	IVREF Inovalis Real Estate Investment Trust	Boost Price Target	C$8.00	C$9.50 ➝ C$10.00	Market Perform	Medium
6/9/2021	INO.UN Inovalis Real Estate Investment Trust	Boost Price Target	C$10.00	C$9.50 ➝ C$10.00		N/A
6/9/2021	TCNGF Tricon Residential	Boost Price Target	C$12.00	C$15.00 ➝ C$15.50	Outperform	Medium
6/9/2021	TCN Tricon Residential	Boost Price Target	C$14.00	C$15.00 ➝ C$15.50	Outperform	N/A
6/9/2021	HAYW Hayward	Initiated Coverage	$25.00	$26.00	Market Perform	Low
6/9/2021	SAPIF Saputo	Upgrade	$30.00		Market Perform ➝ Outperform	Low
6/9/2021	JWEL Jamieson Wellness	Downgrade	C$34.00	C$42.00 ➝ C$37.00	Outperform ➝ Market Perform	N/A
6/9/2021	PATH UiPath	Boost Price Target	$69.00	$80.00 ➝ $85.00	Market Perform	High
6/8/2021	JWLLF Jamieson Wellness	Downgrade	$30.00		Outperform ➝ Market Perform	Low
6/8/2021	RM Regional Management	Downgrade	$48.00	$43.00	Outperform ➝ Market Perform	Medium
6/8/2021	EAT Brinker International	Boost Price Target	$59.00	$80.00 ➝ $83.00	Average ➝ Outperform	High