This is not a Bankers issue at this point.... .....but rather a macro sentiment issue wrt resource issues. However the defensives are crazy expensive at this point and the cyclicals are crazy cheap. I am including the very latest Raymond James report that contains their rationale for them increasing their rating on the stock from market perform to Outperform with a target price increase from $3.50 to $4.00. They have also increased their CORE NAV to just under $4.50. RJ has a recent meeting with the management team of Bankers and are very impressed with their new CEO. Folks remember that this guy was recently the VP of Business Development (including M&A) for one of the worlds largest independent oil and gas E&Ps. His expertise is "developing the business". I really like the thinking that the Raymond James analyst has included in the report. Bankers will have their day in the sun as the stars are lining up for this to happen.
Enjoy the read....I found it encouraging.
https://www.andrewjohns.ca/sites/default/files/BNK_20130409%20BNK%20New%20Strategies%20for%20Value%20Creation;%20Upgrading%20to%20Outperform.pdf