Market News

BMO Launches Holiday-Themed Initiative ‘Wrap the Good’

Bank of Montreal (BMO) has launched Wrap the Good, a new holiday-themed initiative featuring personalized recyclable wrapping paper that also doubles as an advertising space for women small business owners.

Promoting Small Business Recovery

The colorful paper features images of dozens of gifts, along with a QR code that leads to a Pinterest (PINS) board featuring hundreds of products to buy and gift cards from small, female-owned businesses across Canada. (See Analysts’ Top Stocks on TipRanks)

Some of the companies featured in the gift guide include Blume, Collations Remix, and Mme L’Ovary. Participating companies in the BMO Celebrating Women Grant Program featured in the shopping guide will receive copies of the personalized wrapping paper to distribute in their stores and networks. 

Launched on Small Business Day (November 27), Wrap the Good is an extension of the BMO Celebrating Women Grant Program, which recently awarded C$120,000 in scholarships to 18 Canadian women-owned companies.

The companies featured in the gift guide are semifinalists of the 2021 and 2020 scholarship programs. The campaign is a timely reminder to shop from women-owned businesses and support small business recovery during the holiday season.  

Management Commentary 

“BMO saw an opportunity to continue its support of women-owned businesses this holiday season by creating unique wrapping paper that promotes shopping women-owned.” said Jennifer Carli, Head, Global Brand and Social, BMO Financial Group.  

“The pandemic has had a disproportionate impact on Canada’s woman-owned businesses, which will take longer to recover financially than businesses owned by men. Wrap the Good underscores BMO’s commitment to empowering women-owned businesses that are such a vital part of the fabric of our communities, particularly at a time when they’re in need of support.” 

Wall Street’s Take

On November 25, Canaccord Genuity analyst Scott Chan maintained a Buy rating on BMO and set a price target of C$152. This implies 13.5% upside potential. 

Chan expects BMO to post earnings per share of C$3.42 for the fourth quarter of 2021. 

The rest of the Street is cautiously optimistic on BMO with a Moderate Buy consensus rating based on four Buys and two Holds. The average Bank of Montreal price target of C$137.66 implies 2.8% upside potential to current levels.  

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