The Globe and Mail reports in its Thursday, Nov. 21, edition that National Bank Financial analyst Gabriel Dechaine has reaffirmed his "outperform" recommendation for Bank of Montreal. The Globe's David Leeder writes in the Eye On Equities column that Mr. Dechaine boosted his share target to a Street-high of $148, from $127. Analysts on average target the shares at $127.60. Mr. Dechaine says in a note: "We are updating our price targets, which are primarily influenced by extending our valuation horizon to fiscal 2026. In addition, we are slightly increasing our BMO target multiple as we anticipate accelerated EPS growth that reflects a combination of improved credit metrics (i.e., we expect elevated losses during H1/25) and stronger U.S. commercial loan growth." As earnings season for Canadian banks approaches, Mr. Dechaine warns fourth quarters "tend to be a mixed bag, often including an uptick in year-end expenses." He adds, "Looking beyond the quarter, 2025 guidance items are of tremendous interest, especially as it relates to credit expectations, where we expect banks to modestly increase their PCL [provisions for credit losses] ratio guidance ranges."