Scotiabank upgraded to Equal Weight from Underweight at Barclays

Barclays analyst Brian Morton upgraded Scotiabank (BNS) to Equal Weight from Underweight with a price target of C$81, up from C$70. The firm says Canadian bank earnings in Q4 should see seasonal headwinds, and the impact from lower rates though asset management should help fee revenue. It is changing ratings in the group ahead of the earnings reports. The analyst also looks for the banks’ initial takes on 2025.