Barclays analyst Brian Morton initiated coverage of Bank of Montreal with an Overweight rating and C$140 price target. The analyst launched coverage on Canada and Latin America Banks with a Positive industry view. The firm prefers Mexico over Canada given current trends in net interest margin, economy, deposits, loans, returns, credit quality, capital, earnings and valuation. Exposure to residential mortgage loans is an additional concern in Canada, the analyst tells investors in a research note.
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