But there were a small handful of upgrades and downgrades -- suggesting a more significant shift in analyst sentiment. Desjardins Securities upgraded Bank of Montreal to a "buy" rating from a "hold" while raising its price target by $2.50 to $71. Analyst Michael Goldberg mostly cited the dividend hike for his decision, noting that it "reflects greater confidence in the sustainability of BMO's earnings" and signs that last year's acquisition of Marshall & Ilsley Corp. will help diversify and improve the quality of its balance sheet.