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
7/23/2021	PPRQF Choice Properties Real Estate Investment Trust	Boost Price Target	C$12.00	C$14.50 ➝ C$15.25	Market Perform	Low
7/23/2021	MTL Mullen Group	Set Price Target	C$13.00	C$17.00 ➝ C$18.00		N/A
7/23/2021	CHP.UN Choice Properties Real Est Invstmnt Trst	Boost Price Target	C$15.00	C$14.50 ➝ C$15.25		N/A
7/23/2021	REAL Real Matters	Set Price Target	C$15.00	C$20.00 ➝ C$18.00		N/A
7/23/2021	WPK Winpak	Set Price Target	C$40.00	C$48.00 ➝ C$45.00		N/A
7/23/2021	INTC Intel	Boost Price Target	$53.00	$70.00 ➝ $75.00	Outperform	High
7/23/2021	GIB CGI	Boost Price Target	C$92.00	C$121.00 ➝ C$128.00	Outperform	Low
7/23/2021	ARVN Arvinas	Boost Price Target	$95.00	$101.00 ➝ $111.00	Outperform	High
7/23/2021	GIB.A CGI	Boost Price Target	C$116.00	C$121.00 ➝ C$128.00		N/A
7/23/2021	COF Capital One Financial	Boost Price Target	$160.00	$176.00 ➝ $184.00	Outperform	Medium
7/23/2021	DPZ Domino's Pizza	Boost Price Target	$525.00	$410.00 ➝ $500.00	Market Perform	Low
7/22/2021	GWLIF Great-West Lifeco	Boost Price Target	C$30.00	C$37.00 ➝ C$39.00	Market Perform	Low
7/22/2021	IPG The Interpublic Group of Companies	Boost Price Target	$35.00	$34.00 ➝ $38.00	Positive ➝ Market Perform	Medium
7/22/2021	GWO Great-West Lifeco	Boost Price Target	C$37.00	C$37.00 ➝ C$39.00	Market Perfom	N/A
7/22/2021	RUSHA Rush Enterprises	Boost Price Target	$47.00	$49.00 ➝ $53.00	Market Perform	Low
7/22/2021	BYD Boyd Gaming	Boost Price Target	$56.00		Outperform	Low
7/22/2021	BYDGF Boyd Group Services	Boost Price Target	C$192.00	C$248.00 ➝ C$272.00	Outperform	Low
7/22/2021	BYD Boyd Group Services	Boost Price Target	C$242.00	C$248.00 ➝ C$272.00	Outperform	N/A
7/22/2021	ANTM Anthem	Boost Price Target	$382.00	$450.00 ➝ $465.00	Outperform	Low
7/21/2021	FSM Fortuna Silver Mines	Lower Price Target	C$4.00	C$11.25 ➝ C$9.75	Outperform	Medium
7/21/2021	VMEO Vimeo	Initiated Coverage	$44.00	$50.00	Market Perform	Medium
7/21/2021	IAC IAC/InterActiveCorp	Upgrade	$141.00	$250.00 ➝ $170.00	Market Perform ➝ Outperform	Medium
7/21/2021	PPG PPG Industries	Lower Price Target	$163.00	$197.00 ➝ $189.00	Outperform	Low
7/21/2021	HCA HCA Healthcare	Boost Price Target	$248.00	$235.00 ➝ $250.00	Market Perform	Low
7/21/2021	CMG Chipotle Mexican Grill	Boost Price Target	$1,831.00	$1,460.00 ➝ $1,750.00	Market Perform	High
7/20/2021	TCNGF Tricon Residential	Boost Price Target	C$12.00	C$15.50 ➝ C$16.00	Outperform	Low
7/20/2021	TCN Tricon Residential	Boost Price Target	C$15.00	C$15.50 ➝ C$16.00	NA	N/A
7/20/2021	ACDVF Air Canada	Boost Price Target	C$20.00	C$33.00 ➝ C$34.00	Outperform	Low
7/20/2021	MCW Mister Car Wash	Initiated Coverage	$24.00	$25.00	Outperform	High
7/20/2021	AC Air Canada	Boost Price Target	C$25.00	C$33.00 ➝ C$34.00	NA	N/A
7/20/2021	JBHT J.B. Hunt Transport Services	Boost Price Target	$167.00	$160.00 ➝ $165.00	Market Perform	High
7/19/2021	LUC Lucara Diamond	Reiterated Rating	C$1.00	C$0.80	Market Perform	N/A
7/19/2021	CR Crew Energy	Boost Price Target	C$2.00	C$1.75 ➝ C$2.50	NA	N/A
7/19/2021	OBE Obsidian Energy	Boost Price Target	C$4.00	C$2.50 ➝ C$3.00	NA	N/A
7/19/2021	BNE Bonterra Energy	Boost Price Target	C$6.00	C$4.50 ➝ C$5.00	NA	N/A
7/19/2021	FEC Frontera Energy	Boost Price Target	C$8.00	C$8.50 ➝ C$9.00	NA	N/A
7/19/2021	NOV NOV	Upgrade	$14.00	$14.00 ➝ $15.00	Underperform ➝ Market Perform	Low
7/19/2021	POU Paramount Resources	Boost Price Target	C$16.00	C$19.00 ➝ C$20.00	NA	N/A
7/19/2021	WSP WSP Global	Boost Price Target	C$147.00	C$138.00 ➝ C$145.00	NA	N/A
7/16/2021	CRLFF Cardinal Energy	Initiated Coverage	$2.00	$2.29	Outperform	Low
7/16/2021	CJ Cardinal Energy	Boost Price Target	C$3.00	C$4.00 ➝ C$5.00	Outperform	N/A
7/16/2021	TPZEF Topaz Energy	Boost Price Target	C$13.00	C$20.00 ➝ C$21.00	Outperform	High
7/16/2021	TRQ Turquoise Hill Resources	Lower Price Target	C$15.00	C$20.00 ➝ C$19.00	Market Perform	High
7/16/2021	TRQ Turquoise Hill Resources	Lower Price Target	C$18.00		NA	N/A
7/16/2021	UFS Domtar	Downgrade	$55.00	$53.00 ➝ $55.50	Outperform ➝ Market Perform	Low
7/16/2021	MS Morgan Stanley	Boost Price Target	$95.00	$97.00 ➝ $103.00	Outperform	Medium
7/16/2021	IBM International Business Machines	Boost Price Target	$141.00	$150.00 ➝ $155.00	Market Perform	High
7/15/2021	ANCUF Alimentation Couche-Tard	Upgrade	$39.00	$59.00	Outperform	Low
7/15/2021	ATD.B Alimentation Couche-Tard	Upgrade	C$49.00	C$50.00 ➝ C$59.00	Market Perform ➝ Outperform	N/A
7/15/2021	BLK BlackRock	Boost Price Target	$869.00	$773.00 ➝ $803.00	Market Perform	Low
7/14/2021	ATZAF Aritzia	Boost Price Target	C$29.00	C$40.00 ➝ C$43.00	Outperform	High
7/14/2021	ATZ Aritzia	Boost Price Target	C$36.00	C$40.00 ➝ C$43.00	NA	N/A
7/14/2021	JPM JPMorgan Chase & Co.	Boost Price Target	$151.00	$136.00 ➝ $141.00	Market Perform	Low
7/13/2021	HBM Hudbay Minerals	Lower Price Target	C$8.00	C$15.50 ➝ C$15.00	NA	N/A
7/13/2021	BADFF Badger Infrastructure Solutions	Lower Price Target	C$27.00	C$45.00 ➝ C$44.00	Outperform	Low
7/13/2021	TECK.B Teck Resources	Lower Price Target	C$26.00	C$39.00 ➝ C$35.00		N/A
7/13/2021	TRRSF Trisura Group	Lower Price Target	C$36.00	C$170.00 ➝ C$48.00	Outperform	Low
7/13/2021	TSU Trisura Group	Boost Price Target	C$46.00	C$42.50 ➝ C$48.00	NA	N/A
7/13/2021	EA Electronic Arts	Upgrade	$145.00	$150.00 ➝ $168.00	Market Perform ➝ Outperform	Low
7/12/2021	ESRT Empire State Realty Trust	Downgrade	$12.00	$13.50	Outperform ➝ Market Perform	Low
7/12/2021	WKME WalkMe	Initiated Coverage	$29.00		Outperform	High
7/12/2021	JBGS JBG SMITH Properties	Initiated Coverage	$33.00	$40.00	Outperform	Medium
7/12/2021	XOM Exxon Mobil	Initiated Coverage	$57.00	$69.00	Market Perform	Low
7/12/2021	CVX Chevron	Initiated Coverage	$99.00	$123.00	Outperform	Medium
7/10/2021	SOY SunOpta	Set Price Target	C$13.00	C$15.35		N/A
7/9/2021	NXR.UN CVE:NXR.UN	Set Price Target	C$2.00	C$11.75	Outperform	N/A
7/9/2021	EFRTF Nexus Real Estate Investment Trust	Initiated Coverage	$9.00	$11.75	Outperform	Low
7/9/2021	TORXF Torex Gold Resources	Lower Price Target	C$11.00	C$27.00 ➝ C$26.00	Outperform	Low
7/9/2021	STKL SunOpta	Initiated Coverage	$11.00	$15.00	Outperform	High
7/9/2021	TXG Torex Gold Resources	Lower Price Target	C$13.00	C$27.00 ➝ C$26.00	NA	N/A
7/9/2021	SOY SunOpta	Reiterated Rating	C$13.00		Outperform	N/A
7/9/2021	DT Dynatrace	Boost Price Target	$63.00	$56.00 ➝ $70.00	Top Pick ➝ Outperform	Medium
7/9/2021	NGVT Ingevity	Reiterated Rating	$80.00	$112.00	Buy	Low
7/8/2021	NMTR 9 Meters Biopharma	Initiated Coverage	$1.00	$5.00	Outperform	High
7/8/2021	GATO Gatos Silver	Boost Price Target	$13.00	$13.00 ➝ $14.00	Market Perform	Low
7/8/2021	NSA National Storage Affiliates Trust	Downgrade	$55.00	$53.00	Outperform ➝ Market Perform	Medium
7/8/2021	APLS Apellis Pharmaceuticals	Boost Price Target	$68.00	$68.00 ➝ $89.00	Outperform	High
7/7/2021	HZMMF Horizonte Minerals	Initiated Coverage	$0.00		Outperform	Medium
7/7/2021	BDRBF Bombardier	Boost Price Target	C$1.00	C$1.35 ➝ C$1.80	Outperform	Low
7/7/2021	BBD.B Bombardier, Inc. Class B	Boost Price Target	C$1.00	C$1.35 ➝ C$1.80	Outperform	N/A
7/7/2021	MLFNF Maple Leaf Foods	Lower Price Target	C$20.00	C$28.00 ➝ C$27.00	Market Perform	Low
7/7/2021	MFI Maple Leaf Foods	Lower Price Target	C$25.00	C$28.00 ➝ C$27.00	Market Perform	N/A
7/7/2021	STLD Steel Dynamics	Reiterated Rating	$59.00	$68.00	Hold	Low
7/7/2021	WCN Waste Connections	Boost Price Target	$125.00	$130.00 ➝ $134.00	Outperform	Medium
7/7/2021	CACC Credit Acceptance	Reiterated Rating	$477.00	$399.00	Neutral ➝ Hold	High
7/6/2021	CHR Chorus Aviation	Reiterated Rating	C$4.00	C$5.75	Outperform	N/A
7/6/2021	CADNF Cascades	Boost Price Target	C$12.00	C$18.00 ➝ C$20.00	Outperform	Low
7/6/2021	CAS Cascades	Boost Price Target	C$16.00	C$18.00 ➝ C$20.00		N/A
7/6/2021	SC Santander Consumer USA	Downgrade	$41.00	$46.00	Outperform ➝ Market Perform	High
7/6/2021	ALLY Ally Financial	Initiated Coverage	$52.00	$70.00	Buy	Low
7/6/2021	CONE CyrusOne	Upgrade	$73.00	$81.00	Market Perform ➝ Outperform	Medium
7/6/2021	BFAM Bright Horizons Family Solutions	Upgrade	$154.00	$158.00 ➝ $173.00	Market Perform ➝ Outperform	High
7/6/2021	FRFHF Fairfax Financial	Boost Price Target	C$419.00	C$600.00 ➝ C$650.00	Market Perform	Low
7/6/2021	FFH Fairfax Financial	Boost Price Target	C$527.00	C$600.00 ➝ C$650.00	Market Perform	N/A
7/5/2021	SECYF Secure Energy Services	Initiated Coverage	$3.00	$6.50	Buy	High
7/5/2021	CHRRF Chorus Aviation	Initiated Coverage	$4.00		Outperform	High
7/5/2021	SES Secure Energy Services	Boost Price Target	C$4.00	C$4.25 ➝ C$6.50	NA	N/A
7/5/2021	FSM Fortuna Silver Mines	Reiterated Rating	$4.00	$11.25	Buy	Medium
7/5/2021	FVI Fortuna Silver Mines	Reiterated Rating	C$5.00	C$12.50 ➝ C$11.25	Outperform	N/A
7/1/2021	AGFMF AGF Management	Boost Price Target	C$6.00	C$8.00 ➝ C$8.50	Market Perform	Low