Scotia Capital analyst Meny Grauman - Bank of Montreal (BMO-T, “sector outperform”) to $161 from $147. Average: $148.56.
- Canadian Western Bank (CWB-T, “sector outperform”) to $48 from $43. Average: $42.92.
- Equitable Group Inc. (EQB-T, “sector perform”) to $94 from $90. Average: $94.07.
- Laurentian Bank of Canada (LB-T, “sector perform”) to $48 from $46. Average: $46.73.
- Royal Bank of Canada (RY-T, “sector outperform”) to $149 from $148. Average: $145.55.
- Toronto-Dominion Bank (TD-T, “sector perform”) to $104 from $94. Average: $97.09.
His target for Canadian Imperial Bank of Commerce (CM-T, “sector outperform”) remains $168, exceeding the $162.20.
We also highlight RY, which has seen improving operational performance in its flagship Canadian Banking segment in particular and remains our favored defensive name in the face of the small but rising risks that we have highlighted above.