Great West upgraded to Outperform from Sector Perform at Scotiabank

Scotiabank upgraded Great West (GWO.TO) to Outperform from Sector Perform with a price target of C$59, up from C$52. Scotiabank continues to like and recommend Canadian lifeco stocks and thinks the group stands out as a safe haven from the Canada/U.S. trade war, the analyst tells investors in a research note. The firm likes the set up for year-end lifeco reporting both in terms of quarterly fundamentals themselves, but also because of the ability of these stocks to provide shelter from the coming tariff storm. Great West is the firm’s top pick, and Scotiabank expects the April investor day to deliver higher medium-term EPS growth and return on equity targets, along with potentially more disclosure on the lifeco’s cash-generating ability.