National Bank price target raised to $53 from $51 at DA Davidson

DA Davidson analyst Jeff Rulis raised the firm’s price target on National Bank (NBHC) to $53 from $51 and keeps a Buy rating on the shares. The firm is raising its EPS estimates for FY24 and FY25 by 5c each to $3.20 and $3.45 respectively following its Q3 earnings beat and with the net interest margin picture looking brighter, the analyst tells investors in a research note. With credit quality improving and expenses well controlled, DA Davidson also notes that risks to its 2025 outlook are lessening.