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
12/7/2022	RSG Republic Services	Downgrade	$136.00	$152.00 ➝ $148.00	Outperform ➝ Market Perform	Low
12/7/2022	FBHS Fortune Brands Home & Security	Lower Price Target	$60.00	$85.00 ➝ $82.00	Outperform	Low
12/7/2022	PLAY Dave & Buster's Entertainment	Lower Price Target	$34.00	$66.00 ➝ $55.00	Outperform	Low
12/7/2022	EQX Equinox Gold	Boost Price Target	C$4.00	C$6.00 ➝ C$6.50		N/A
12/7/2022	EQX Equinox Gold	Boost Price Target	C$8.00	C$6.00 ➝ C$6.50		N/A
12/7/2022	SFTC Softchoice	Set Price Target	C$15.00	C$20.00	Outperform	N/A
12/6/2022	SLG SL Green Realty	Downgrade	$35.00	$47.00 ➝ $41.00	Outperform ➝ Market Perform	Low
12/6/2022	WK Workiva	Boost Price Target	$78.00	$76.00 ➝ $88.00	Outperform	Low
12/6/2022	FSM Fortuna Silver Mines	Boost Price Target	C$4.00	C$5.75 ➝ C$6.00		Low
12/6/2022	FVI Fortuna Silver Mines	Boost Price Target	C$5.00	C$5.75 ➝ C$6.00		N/A
12/5/2022	WEC WEC Energy Group	Boost Price Target	$95.00	$93.00 ➝ $100.00		Low
12/5/2022	BX Blackstone	Lower Price Target	$79.00	$109.00 ➝ $90.00		Low
12/2/2022	PEB Pebblebrook Hotel Trust	Downgrade	$15.00	$20.00 ➝ $18.00	Outperform ➝ Market Perform	Low
12/2/2022	SMAR Smartsheet	Boost Price Target	$36.00	$38.00 ➝ $41.00		Low
12/2/2022	DG Dollar General	Lower Price Target	$249.00	$265.00 ➝ $255.00		Low
12/2/2022	MRVL Marvell Technology	Lower Price Target	$40.00	$75.00 ➝ $65.00		Low
12/2/2022	ZS Zscaler	Lower Price Target	$114.00	$162.00 ➝ $150.00		Low
12/2/2022	BMO Bank of Montreal	Boost Price Target	C$94.00	C$148.00 ➝ C$151.00		Low
12/2/2022	CM Canadian Imperial Bank of Commerce	Lower Price Target	C$59.00	C$76.00 ➝ C$71.00		N/A
12/2/2022	CNR Canadian National Railway	Boost Price Target	C$171.00	C$180.00 ➝ C$185.00		N/A
12/2/2022	CJT Cargojet	Lower Price Target	C$130.00	C$165.00 ➝ C$150.00		N/A
12/2/2022	CHR Chorus Aviation	Lower Price Target	C$3.00	C$6.00 ➝ C$5.35		N/A
12/2/2022	TD Toronto-Dominion Bank	Boost Price Target	C$89.00	C$95.00 ➝ C$98.00		N/A
12/1/2022	SPLK Splunk	Lower Price Target	$84.00	$120.00 ➝ $100.00		Low
12/1/2022	CRM Salesforce	Lower Price Target	$131.00	$180.00 ➝ $172.00		Low
12/1/2022	OKTA Okta	Boost Price Target	$62.00	$58.00 ➝ $69.00		Low
12/1/2022	VSCO Victoria's Secret & Co.	Boost Price Target	$45.00	$45.00 ➝ $53.00		Low
12/1/2022	FOM Foran Mining	Boost Price Target	C$3.00	C$3.00 ➝ C$3.50		N/A
12/1/2022	SIL SilverCrest Metals	Boost Price Target	C$9.00	C$12.00 ➝ C$12.25		N/A
12/1/2022	SDE Spartan Delta	Boost Price Target	C$14.00	C$19.00 ➝ C$21.00		N/A
12/1/2022	FMCXF Foran Mining	Boost Price Target	C$2.00	C$3.00 ➝ C$3.50		N/A
12/1/2022	DALXF Spartan Delta	Boost Price Target	C$11.00	C$19.00 ➝ C$21.00		Low
12/1/2022	SILV SilverCrest Metals	Boost Price Target	C$7.00	C$12.00 ➝ C$12.25		N/A
11/30/2022	INTU Intuit	Lower Price Target	$390.00	$467.00 ➝ $448.00		Low
11/30/2022	AZEK AZEK	Lower Price Target	$19.00	$29.00 ➝ $27.00		Low
11/30/2022	ELEEF Element Fleet Management	Boost Price Target	C$14.00	C$21.00 ➝ C$23.00		Low
11/30/2022	SU Suncor Energy	Lower Price Target	C$30.00	C$58.00 ➝ C$55.00		Low
11/30/2022	TRP TC Energy	Lower Price Target	C$43.00	C$70.00 ➝ C$68.00		Low
11/30/2022	EFN Element Fleet Management	Boost Price Target	C$19.00	C$21.00 ➝ C$23.00		N/A
11/30/2022	BNS Bank of Nova Scotia	Lower Price Target	C$68.00	C$86.00 ➝ C$85.00	Market Perform ➝ Market Perform	N/A
11/30/2022	SU Suncor Energy	Lower Price Target	C$41.00	C$58.00 ➝ C$55.00		N/A
11/30/2022	TRP TC Energy	Lower Price Target	C$58.00	C$70.00 ➝ C$68.00		N/A
11/29/2022	TEAM Atlassian	Lower Price Target	$125.00	$160.00 ➝ $151.00		Low
11/29/2022	RUPRF Rupert Resources	Lower Price Target	C$3.00	C$10.00 ➝ C$8.00		Low
11/29/2022	RUP Rupert Resources	Lower Price Target	C$5.00	C$10.00 ➝ C$8.00		N/A
11/28/2022	DE Deere & Company	Boost Price Target	$441.00	$375.00 ➝ $450.00	Market Perform	Low
11/28/2022	SPGI S&P Global	Boost Price Target	$351.00	$355.00 ➝ $393.00	Outperform	Low
11/28/2022	CLNFF Calian Group	Lower Price Target	C$49.00	C$95.00 ➝ C$80.00		Low
11/28/2022	CGY Calian Group	Lower Price Target	C$66.00	C$95.00 ➝ C$80.00		N/A
11/23/2022	ADI Analog Devices	Boost Price Target	$166.00	$190.00 ➝ $195.00	Outperform	Low
11/23/2022	AEO American Eagle Outfitters	Boost Price Target	$16.00	$10.00 ➝ $14.00	Market Perform	Low
11/23/2022	WNGRF George Weston	Boost Price Target	C$124.00	C$166.00 ➝ C$172.00		Low
11/23/2022	WN George Weston	Boost Price Target	C$172.00	C$166.00 ➝ C$172.00		N/A
11/23/2022	GFI Gold Fields	Boost Price Target	$11.00	$10.50 ➝ $11.50	Market Perform	Low
11/22/2022	DTE DTE Energy	Boost Price Target	$115.00	$117.00 ➝ $125.00	Market Perform	Low
11/22/2022	APD Air Products and Chemicals	Boost Price Target	$315.00	$339.00 ➝ $390.00	Outperform	Low
11/22/2022	URBN Urban Outfitters	Boost Price Target	$29.00	$19.00 ➝ $24.00	Market Perform	Low
11/22/2022	BX Blackstone	Lower Price Target	$79.00	$115.00 ➝ $109.00	Market Perform	Low
11/22/2022	DNTL dentalcorp	Boost Price Target	C$8.00	C$13.00 ➝ C$14.00		N/A
11/21/2022	EAF GrafTech International	Boost Price Target	$5.00	$5.00 ➝ $6.00	Market Perform	Low
11/21/2022	CGIFF Chemtrade Logistics Income Fund	Upgrade	$7.00		Market Perform ➝ Outperform	Low
11/21/2022	POST Post	Boost Price Target	$93.00	$96.00 ➝ $99.00	Market Perform	Low
11/21/2022	WDAY Workday	Lower Price Target	$164.00	$217.00 ➝ $195.00	Outperform	Low
11/21/2022	INTU Intuit	Lower Price Target	$390.00	$533.00 ➝ $467.00	Outperform	Low
11/21/2022	BRLXF Boralex	Lower Price Target	C$29.00	C$53.00 ➝ C$50.00		Low
11/21/2022	BLX Boralex	Lower Price Target	C$38.00	C$53.00 ➝ C$50.00		N/A
11/21/2022	CHE.UN Chemtrade Logistics Income Fund	Boost Price Target	C$10.00	C$9.00 ➝ C$10.50		N/A
11/18/2022	BTU Peabody Energy	Boost Price Target	$30.00	$28.00 ➝ $31.00	Market Perform	Low
11/18/2022	PANW Palo Alto Networks	Boost Price Target	$166.00	$218.00 ➝ $225.00		Low
11/18/2022	CRM Salesforce	Lower Price Target	$131.00	$190.00 ➝ $180.00		Low
11/18/2022	ROST Ross Stores	Boost Price Target	$116.00	$95.00 ➝ $113.00		Low
11/18/2022	SEDG SolarEdge Technologies	Boost Price Target	$310.00	$316.00 ➝ $355.00		Low
11/17/2022	TGT Target	Downgrade	$154.00	$190.00 ➝ $165.00	Outperform ➝ Market Perform	Low
11/17/2022	TPG TPG	Boost Price Target	$32.00	$37.00 ➝ $40.00	Market Perform	Low
11/17/2022	MTRAF Metro	Boost Price Target	C$57.00	C$78.00 ➝ C$82.00		N/A
11/17/2022	STZHF Stelco	Boost Price Target	C$32.00	C$49.00 ➝ C$56.00		Low
11/17/2022	AHOTF American Hotel Income Properties REIT	Lower Price Target	C$2.00	C$2.75		Low
11/17/2022	HRUFF H&R Real Estate Investment Trust	Lower Price Target	C$9.00	C$17.00 ➝ C$15.50		Low
11/17/2022	RLLMF Real Matters	Lower Price Target	C$3.00	C$5.00 ➝ C$4.50		N/A
11/17/2022	HOT.UN American Hotel Income Properties REIT	Lower Price Target	C$3.00	C$3.00 ➝ C$2.75		N/A
11/17/2022	HR.UN H&R Real Estate Investment Trust	Lower Price Target	C$12.00	C$17.00 ➝ C$15.50		N/A
11/17/2022	MRU Metro	Boost Price Target	C$78.00	C$78.00 ➝ C$82.00		N/A
11/17/2022	REAL Real Matters	Lower Price Target	C$4.00	C$5.00 ➝ C$4.50		N/A
11/17/2022	STLC Stelco	Boost Price Target	C$44.00	C$49.00 ➝ C$56.00		N/A
11/16/2022	WKME WalkMe	Lower Price Target	$9.00	$14.00 ➝ $10.50		Low
11/16/2022	WMT Walmart	Boost Price Target	$150.00	$160.00 ➝ $165.00		Low
11/16/2022	PAZRF Plaza Retail REIT	Lower Price Target	C$3.00	C$5.25 ➝ C$5.00		N/A
11/16/2022	PLZ.UN Plaza Retail REIT	Lower Price Target	C$4.00	C$5.25 ➝ C$5.00		N/A
11/15/2022	TSN Tyson Foods	Lower Price Target	$64.00	$90.00 ➝ $75.00	Market Perform	Low
11/15/2022	SRRK Scholar Rock	Lower Price Target	$8.00	$43.00 ➝ $32.00	Outperform	Low
11/15/2022	VNTR Venator Materials	Lower Price Target	$0.00	$0.60 ➝ $0.50	Underperform	Low
11/15/2022	SAWLF Shawcor	Boost Price Target	C$9.00	C$12.00 ➝ C$15.00		Low
11/15/2022	ABCT ABC Technologies	Boost Price Target	C$5.00	C$4.50 ➝ C$5.00		N/A
11/15/2022	APR.UN Automotive Properties Real Est Invt TR	Lower Price Target	C$11.00	C$13.50 ➝ C$12.50		N/A
11/15/2022	SCL Shawcor	Boost Price Target	C$13.00	C$12.00 ➝ C$15.00		N/A
11/14/2022	AQN Algonquin Power & Utilities	Downgrade	$7.00	$17.50 ➝ $11.00	Outperform ➝ Market Perform	Low
11/14/2022	ARES Ares Management	Downgrade	$71.00	$93.00	Outperform ➝ Market Perform	Low
11/14/2022	MGNX MacroGenics	Upgrade	$6.00	$5.70 ➝ $16.00	Market Perform ➝ Outperform	Low
11/14/2022	CTMX CytomX Therapeutics	Downgrade	$2.00	$3.00 ➝ $2.60	Outperform ➝ Market Perform	Low
11/14/2022	PHAT Phathom Pharmaceuticals	Lower Price Target	$11.00	$45.00 ➝ $38.00	Outperform	Low