BofA upgraded Scotiabank (BNS) to Buy from Neutral with a price target of C$90, up from C$73. The Street is under appreciating the progress afoot to turnaround the franchise under CEO Scott Thomson, who has revamped the leadership team with external hires, sharpened focus on franchise profitability, while recalibrating capital deployment towards Canada and the U.S. since taking over as CEO in early 2023, the analyst tells investors.
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