Barclays raised the firm’s price target on Scotiabank (BNS) to C$106 from C$97 and keeps an Equal Weight rating on the shares as part of a Q1 earnings preview for the Canadian banks. The firm expects Canadian bank earnings to modestly increase from Q4 on balance sheet growth, stable net interest income, lower expenses, benign credit quality and active share repurchases. It upped price targets in the group to reflect easing mortgage renewal concerns.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BNS:
- Scotiabank price target raised to C$114 from C$109 at Raymond James
- Bank of Nova Scotia Sets Final Terms for USD 50 Million Callable Senior Notes
- Bank of Nova Scotia Files Form 6-K Backing US$2.75 Billion Senior Notes Issuance
- Scotiabank Projects Up to CAD $89 Million Q1 Boost from KeyCorp Stake
- Shopify Receives a New Street-High Price Target from Scotiabank