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
11/30/2022	INTU Intuit	Lower Price Target	$406.00	$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$33.00	C$58.00 ➝ C$55.00		Low
11/30/2022	TRP TC Energy	Lower Price Target	C$44.00	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$70.00	C$86.00 ➝ C$85.00		N/A
11/30/2022	SU Suncor Energy	Lower Price Target	C$44.00	C$58.00 ➝ C$55.00		N/A
11/30/2022	TRP TC Energy	Lower Price Target	C$60.00	C$70.00 ➝ C$68.00		N/A
11/29/2022	TEAM Atlassian	Lower Price Target	$132.00	$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	$438.00	$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$48.00	C$95.00 ➝ C$80.00		Low
11/28/2022	CGY Calian Group	Lower Price Target	C$65.00	C$95.00 ➝ C$80.00		N/A
11/23/2022	ADI Analog Devices	Boost Price Target	$170.00	$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$169.00	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	$116.00	$117.00 ➝ $125.00	Market Perform	Low
11/22/2022	APD Air Products and Chemicals	Boost Price Target	$307.00	$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	$90.00	$115.00 ➝ $109.00	Market Perform	Low
11/22/2022	DNTL dentalcorp	Boost Price Target	C$9.00	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	$94.00	$96.00 ➝ $99.00	Market Perform	Low
11/21/2022	WDAY Workday	Lower Price Target	$167.00	$217.00 ➝ $195.00	Outperform	Low
11/21/2022	INTU Intuit	Lower Price Target	$406.00	$533.00 ➝ $467.00	Outperform	Low
11/21/2022	BRLXF Boralex	Lower Price Target	C$27.00	C$53.00 ➝ C$50.00		Low
11/21/2022	BLX Boralex	Lower Price Target	C$37.00	C$53.00 ➝ C$50.00		N/A
11/21/2022	CHE.UN Chemtrade Logistics Income Fund	Boost Price Target	C$9.00	C$9.00 ➝ C$10.50		N/A
11/18/2022	BTU Peabody Energy	Boost Price Target	$32.00	$28.00 ➝ $31.00	Market Perform	Low
11/18/2022	PANW Palo Alto Networks	Boost Price Target	$169.00	$218.00 ➝ $225.00		Low
11/18/2022	CRM Salesforce	Lower Price Target	$158.00	$190.00 ➝ $180.00		Low
11/18/2022	ROST Ross Stores	Boost Price Target	$118.00	$95.00 ➝ $113.00		Low
11/18/2022	SEDG SolarEdge Technologies	Boost Price Target	$300.00	$316.00 ➝ $355.00		Low
11/17/2022	TGT Target	Downgrade	$167.00	$190.00 ➝ $165.00	Outperform ➝ Market Perform	Low
11/17/2022	TPG TPG	Boost Price Target	$33.00	$37.00 ➝ $40.00	Market Perform	Low
11/17/2022	MTRAF Metro	Boost Price Target	C$58.00	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$45.00	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	$152.00	$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	$66.00	$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	$1.00	$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$12.00	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	$79.00	$93.00	Outperform ➝ Market Perform	Low
11/14/2022	MGNX MacroGenics	Upgrade	$7.00	$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	$9.00	$45.00 ➝ $38.00	Outperform	Low
11/14/2022	STLD Steel Dynamics	Boost Price Target	$103.00	$89.00 ➝ $100.00	Market Perform	Low
11/14/2022	PEG Public Service Enterprise Group	Lower Price Target	$60.00	$64.00 ➝ $59.00	Market Perform	Low
11/14/2022	OPTN OptiNose	Lower Price Target	$2.00	$6.00 ➝ $5.00	Outperform	Low
11/14/2022	BEI.UN Boardwalk REIT	Boost Price Target	C$50.00	C$56.50 ➝ C$61.00		N/A
11/14/2022	EMA Emera	Lower Price Target	C$52.00	C$63.00 ➝ C$61.00		N/A
11/14/2022	GCG Guardian Capital Group	Boost Price Target	C$38.00	C$40.00 ➝ C$41.00		N/A
11/14/2022	IIP.UN Interrent Real Estate Investment Trust	Lower Price Target	C$13.00	C$15.00 ➝ C$14.50		N/A
11/14/2022	MDA MDA	Lower Price Target	C$6.00	C$10.00 ➝ C$8.50		N/A
11/14/2022	MI.UN Minto Apartment Real Estate Invt Trust	Lower Price Target	C$15.00	C$21.00 ➝ C$20.00		N/A
11/14/2022	SRU.UN SmartCentres Real Estate Investment Trst	Lower Price Target	C$28.00	C$30.00 ➝ C$29.00		N/A
11/14/2022	BOWFF Boardwalk Real Estate Investment Trust	Boost Price Target	C$37.00	C$56.50 ➝ C$61.00		Low
11/14/2022	CROMF Crombie Real Estate Investment Trust	Boost Price Target	C$12.00	C$17.50 ➝ C$18.00		Low
11/14/2022	GCAAF Guardian Capital Group	Boost Price Target	C$21.00	C$40.00 ➝ C$41.00		Low
11/14/2022	STN Stantec	Boost Price Target	C$49.00	C$75.00 ➝ C$76.00		Low
11/14/2022	EMRAF Emera	Lower Price Target	C$38.00	C$63.00 ➝ C$61.00		Low
11/14/2022	EHMEF goeasy	Lower Price Target	C$89.00	C$234.00 ➝ C$192.00		Low
11/14/2022	IIPZF InterRent Real Estate Investment Trust	Lower Price Target	C$9.00	C$15.00 ➝ C$14.50		Low
11/14/2022	CWYUF SmartCentres Real Estate Investment Trust	Lower Price Target	C$20.00	C$30.00 ➝ C$29.00		Low
11/14/2022	CSCCF Capstone Copper	Boost Price Target	C$3.00	C$5.00 ➝ C$5.50	Outperform ➝ Outperform	Low
11/11/2022	MMX Maverix Metals	Downgrade	$4.00	$5.75 ➝ $4.00	Outperform ➝ Market Perform	Low
11/11/2022	ANRGF Anaergia	Downgrade	$3.00		Outperform ➝ Market Perform	Low
11/11/2022	SNPO Snap One	Lower Price Target	$8.00	$17.00 ➝ $12.00	Market Perform	Low
11/11/2022	LOPE Grand Canyon Education	Boost Price Target	$113.00	$98.00 ➝ $120.00		Low
11/11/2022	KRUS Kura Sushi USA	Lower Price Target	$66.00	$80.00 ➝ $70.00		Low
11/11/2022	STRA Strategic Education	Boost Price Target	$82.00	$82.00 ➝ $88.00		Low
11/11/2022	EOG EOG Resources	Boost Price Target	$143.00	$145.00 ➝ $160.00		Low
11/11/2022	BFAM Bright Horizons Family Solutions	Boost Price Target	$73.00	$74.00 ➝ $84.00		Low
11/11/2022	AOCIF AutoCanada	Boost Price Target	C$19.00	C$25.00 ➝ C$28.00		N/A
11/11/2022	CESDF CES Energy Solutions	Boost Price Target	C$2.00	C$4.00 ➝ C$4.50		Low
11/11/2022	PPRQF Choice Properties Real Estate Investment Trust	Boost Price Target	C$11.00	C$14.50 ➝ C$14.75		Low
11/11/2022	FSM Fortuna Silver Mines	Boost Price Target	C$4.00	C$5.25 ➝ C$5.75		Low
11/11/2022	OR Osisko Gold Royalties	Boost Price Target	C$13.00	C$18.50 ➝ C$20.00		Low
11/11/2022	PEYUF Peyto Exploration & Development	Boost Price Target	C$11.00	C$14.00 ➝ C$16.00		Low