BofA initiated coverage of National Bank of Canada (NTIOF) with a Buy rating and C$150 price target As the smallest Canadian bank by assets, the firm views National as “a rare secular growth story in a saturated banking market with significant runway to gain share outside its home market of Quebec,” noting that its forecast implies a peer-leading return on equity of 15.7%. This, combined with top-tier management, should drive stock outperformance, the analyst tells investors.
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