BMO slices 1,000 points from its Toronto stock market forecast [Toronto Globe and Mail (Ontario, Canada)]
Canadian Imperial Bank of Commerce (CM)
Last canadian imperial bank of commerce earnings: 2/26 05:53 am
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Source: Toronto Globe and Mail
BMO slices 1,000 points from its Toronto stock market forecast Briefing highlights 1, points Bank of Montreal’s chief investment strategist has sliced 1, points from his 219 forecast for the Toronto stock market. Brian Belski still expects the S&P/TSX Composite Index to surge to a fresh high this year, just not as high as he originally projected. “Ultimately, we believe barring a broad global recession (which we do not expect by the way), there’s a very good chance that Canadian stocks are already priced for a significant economic and earnings deceleration,” Mr. Belski said in Tuesday’s outlook. Story continues below advertisement “However, we cannot ignore the precipitous drop in stocks that transpired in 4Q18 – one that we clearly believe was fueled more by speculation, rhetoric, innuendo and fear relative to fundamentals (even in Canada),” he added. “As such, we are tweaking our 219 yearend S&P/TSX index price target to 17, – which, oh, by the way, is still a new price hi
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