RE:NB Joins InNB raises again as do two other banks whose reports I will post shortly. GLTA
National Bank’s Jaeme Gloyn to $90 from $88 with an “outperform” rating.
“Another quarter of surprise NIM upside, solid non-interest income, and stable expense growth that drove upgraded guidance will take the shares higher, in our view,” he said. “Our upward revised estimates and PT reflect this outlook (as well as EQB’s shift to an Oct. 31 year-end). On the other hand, the PCL miss and slight cracks in the credit picture will temper some of the share price upside.”