Bank of Montreal: Looking At Overvaluation And Q2

Bank of Montreal stock currently trades at an unprecedented 17x P/E, well above its historical 10-12x range. BMO's recent outperformance is driven by expectations of U.S.-centric growth post-Bank of the West integration, but I remain skeptical of sustained high returns. I maintain a Hold rating on BMO with a fair value target of $140 CAD/share, citing valuation risks and macro sensitivity.