RBC Capital raised the firm’s price target on Scotiabank (BNS) to C$86 from C$80 and keeps a Sector Perform rating on the shares. The company’s Q3 results were better than expected mainly due to lower than expected impaired credit loss provisions and better than expected net interest income, the analyst tells investors in a research note. BNS noted caution on impaired provision for the remainder of the year, though the firm views the quarter’s credit performance positively, RBC added.
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