Raymond James Increases Price Target for Canadian Western Bank

Analysts at Raymond James recently raised their price target for Canadian Western Bank (TSE:CWB) from C$54.00 to C$59.00 in a report released to investors on Thursday. This adjustment comes with a "market perform" rating for the stock, suggesting a neutral outlook.

The new target price indicates a potential upside of 4.63% based on the bank's current trading price.

Other analysts have also shown interest in Canadian Western Bank. For example, Jefferies Financial Group increased their price objective from C$52.00 to C$57.00, maintaining a "hold" rating on the shares. Similarly, Royal Bank of Canada raised their target from C$51.00 to C$52.00, giving it a "sector perform" rating. Cormark also adjusted their target price from C$46.00 to C$47.00. Recently, BMO Capital Markets raised their target for the bank from C$52.00 to C$58.00. Additionally, CIBC World Markets has classified Canadian Western Bank stock as a "hold." Currently, six analysts have a hold rating on the stock, while four suggest a buy rating, contributing to an average rating of "Hold" with an average target price of C$54.83 according to MarketBeat.

Current Stock Performance

On Thursday, shares of Canadian Western Bank traded down by 1.3%, reaching C$56.39. The trading volume stood at 99,828 shares, which is lower than the average volume of 366,839. The market capitalization of the bank is approximately C$5.45 billion, with a price-to-earnings (PE) ratio of 18.92. The bank's recent 50-day moving average is C$57.67, while the 200-day moving average is C$49.52. Over the past year, Canadian Western Bank has seen a 52-week low of C$24.66 and a 52-week high of C$61.81.

About Canadian Western Bank

Canadian Western Bank is a diversified financial services organization that offers a range of banking, trust, and wealth management services through its various subsidiaries. The bank provides comprehensive business banking services, including commercial banking, equipment financing, real estate financing, and leasing aimed at small- and medium-sized enterprises. In addition, Canadian Western Bank offers personal banking features like chequing and savings accounts, loans, mortgages, and investment products.

Stocks, Bank, Analysis