National Bank of Canada upgraded to Buy from Hold at Jefferies

Jefferies upgraded National Bank of Canada (NTIOF) to Buy from Hold with a price target of C$153, up from C$126. The market will likely need to wait one more quarter for Canadian bank lending volumes “to break out of their doldrums,” the analyst tells investors in a research note. The firm favors names that have potential catalysts for growth in 2025 and added National Bank to its Buy list, with its looming acquisition of Canadian Western Bank.