Scotiabank price target raised to C$74 from C$65 at RBC Capital

RBC Capital analyst Darko Mihelic raised the firm’s price target on Scotiabank (BNS) to C$74 from C$65 and keeps a Sector Perform rating on the shares. The firm is modeling good core EPS growth in 2025 of about 10%, even though it is lowering estimates on the view that its previous expectations were too high, the analyst tells investors in a research note. RBC adds it is modeling a provision for credit losses – PCL – of 0.53% in 2025 as it expects impaired PCLs to persist with small releases in performing provisions.