CIBC analyst Paul Holden downgraded Scotiabank (BNS) to Neutral from Outperformer with a price target of C$81, down from C$84. While still positive on bottom-up fundamentals based on expectations for net interest margin expansion, realization of operating efficiencies and capital optimization, the firm changed its top-down call and view on credit risk, as Scotiabank could be more significantly impacted than peers in a tariff scenario, the analyst tells investors in a preview note for the Canadian banks.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BNS:
- The Bank of Nova Scotia Announces New Medium-Term Notes Issuance
- Scotiabank Issues $1 Billion in Capital Notes to Strengthen Financial Stability
- Scotiabank Revamps Business Segment Reporting for Improved Strategy Execution
- Scotiabank Registers New Debt Securities to Bolster Financial Operations
- Scotiabank Issues GBP350 Million Callable Senior Notes