Post by
retiredcf on Nov 14, 2022 4:31pm
Barclays
Ahead of the approaching fourth-quarter earnings season for Canadian banks, Barclays analyst John Aiken made a series of target price adjustments.
“Ongoing BoC rate tightening cycle should boost margins and CMRev could surprise to the upside. However, credit will likely weaken (but still remain fairly benign) while a kitchen sink Q4 could bring lumpier NIX. At the end of the day, strong capital and solid dividend yields provides some downside protection,” he said.
Mr. Aiken’s changes were:
- Bank of Montreal ( “overweight”) to $153 from $151. The average on the Street is $148.29.
- Canadian Western Bank ( “overweight”) to $29 from $31. Average: $33.14.
- Laurentian Bank of Canada ( “equal-weight”) to $37 from $40. Average: $42.15.
- Royal Bank of Canada (“overweight”) to $140 from $137. Average: $137.26.
- Toronto-Dominion Bank ( “overweight”) to $100 from $101. Average: $99.14.
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