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BMO InvestorLine, a wholly owned subsidiary of Bank of Montreal (BMO) is expanding access to adviceDirect, thus providing personalized advice and support to even more Canadian investors online.
Updates to adviceDirect include reduction of the minimum balance (to C$10,000 from C$50,000), modification of the consultation fee scale, and expansion of the categories of free transactions.
"adviceDirect is a unique investing solution that combines the convenience of digital investing with personalized in-platform advice and access to advisor support," said Silvio Stroescu, Head, InvestorLine, BMO Financial Group. "While many investors already benefit from this hybrid approach, we lowered the threshold for entry to empower new and younger investors to take their first steps into investing and use the personalized advice offered to make even smarter decisions." (See Bank of Montreal stock charts on TipRanks)
On September 1, Credit Suisse analyst Mike Rizvanovic maintained a Buy rating on BMO with a price target of C$147. This implies 14.4% upside potential.
The rest of the Street is cautiously optimistic, with a Moderate Buy consensus rating based on eight Buys and three Holds. The average Bank of Montreal price target of C$139.39 implies 8.8% upside potential to current levels.
TipRanks’ Smart Score
BMO scores a "Perfect 10” on TipRanks’ Smart Score rating system, indicating that the stock returns have very good chances to beat the overall market.