The Latest Breaking News from BMO

‘A recruitment process works both ways,’ she says

The bank is aspiring to national reach, so it is dropping the Harris name and Hubert, its longtime symbol.

ST. PAUL, Minn. — BMO Financial Group must pay the bankruptcy trustees of Tom Petters $563.7 million in damages for the role a predecessor bank played in the multibillion-dollar fraud by the Minnesota businessman, a federal jury in St. Paul ruled Tuesday.

Workday, Inc (NASDAQ:WDAY) clocked 21.9% revenue growth in Q2 to $1.54 billion, which beat average analyst estimates. The subscription revenues of $1.37 billion were up 22.8%.  Workday reported EPS of $0.83, which beat average analyst estimates. Workday reported solid 2Q23 results highlighted with an uncertain macro backdrop pressuring sales much less than feared, Needham analyst…

Analysts remained divided with a cautious tone over SAP SE's (NYSE:SAP) prospects post Q2 results. Barclays analyst Raimo Lenschow saw SAP managing expectations into Q2, and the move lower in consensus halved the adj. EBIT miss.  He found the FY guidance cut was unexpected, though, especially following reiterations in the quarter, and could not…

BMO Capital initiated coverage of Intellia Therapeutics Inc (NASDAQ:NTLA) with a Market Perform rating and a $54 target price.  The analyst says Intellia's gene-editing platform could potentially deliver transformative therapies.  But challenges around the lack of clarity around an IND approval in the U.S., ongoing CRISPR/Cas9 IP litigations with Editas Medicine Inc (NASDAQ:EDIT), and high patient…

BMO Capital initiated coverage on Beam Therapeutics Inc (NASDAQ:BEAM) with a Market Perform rating and a price target of 41. BMO writes that it appreciates the high potential of Beam's next-generation editing approach, but clinical validation is yet to be established. Preclinical base editing data point to a favorable benefit/risk profile. Also Read: Pfizer, Beam…

BMO Capital Markets initiated coverage on Graphite Bio Inc (NASDAQ:GRPH), with a price target of $12 and an Outperform rating. The analyst notes that Graphite's gene editing approach involves a DNA repair mechanism that is known to be less vulnerable to errors.  BMO writes that Graphite's platform is expected to be safer than existing…

BMO Capital Markets initiated the coverage on Precision BioSciences Inc (NASDAQ:DTIL) with an Outperform rating and a price target of $7. The analyst said the thesis is based on: The company's proprietary gene-editing platform, whose mechanism is differentiated in a CRISPR-dominated space, offers several advantages. A diversified pipeline. Asymmetric risk/reward skewed to the upside.…

Bank of Montreal (TSX: BMO) (NYSE: BMO) 

Walt Disney Co (NYSE: DIS) was featured as the call of the day Tuesday on CNBC's "Fast Money Halftime Report." Analysts Clash: BMO reiterated Disney with a Market Perform rating and cut the price target to $140 from $175.