National Bank of Canada T.NA.PR.S

Credit Suisse Outperform TP to $76

[Dibah420]

Analyst Actions: Credit Suisse Keeps Outperform on National Bank, Ups TP to $76, Also Raises Ests on Q4 Beat

 

03 Dec 202014:40 ET

 

02:40 PM EST, 12/03/2020 (MT Newswires) -- Credit Suisse has kept its Outperform on National Bank, and raised its one year price target to $76 after the bank reported a Q4 beat: NA's Q4 adjusted EPS of $1.69 comfortably beat CSe of C$1.53, albeit to a lesser degree if CS had excluded a $0.10/share charge related to severance that the analyst believes should be counted as a normal course operating expense.

Loan losses were roughly a $0.12/share favorable variance relative to CS EPS forecast with management also providing a more positive near-term outlook, targeting a 25 bps to 35 bps loss ratio for F2021.

CS is now forecasting EPS of $6.68 (was C$6.29) for F2021 and $7.15 (was $6.96) for F2022.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

Price: 72.00, Change: -0.59, Percent Change: -0.81