The Globe and Mail reports in its Friday, Sept. 20, edition that CIBC World Markets analyst Paul Holden has upgraded Bank of Nova Scotia to "outperform" from "neutral." The Globe's David Leeder writes that Mr. Holden elevated his share target to a Street-high $82 from $78. Analysts on average target the shares at $70.34. Mr. Holden says in a note: "Our [Scotiabank] upgrade is primarily premised on potential upside to consensus EPS, early indications of execution against its strategic plan, and a discounted valuation multiple. [Scotiabank] could post the highest, or among the highest, EPS CAGRs through F2026 premised on its differentiated rate exposure and tailwind from declining PCLs. F2026 consensus EPS implies a two-year CAGR of 11 per cent, tied for highest with BMO. We also see potential upside to consensus EPS based on NIM expansion from funding mix improvement, realization of expense efficiencies and lower PCLs. Early evidence of execution against plan supports an argument for including some of the intended earnings benefits in our forecasts. Other points that support a buy Scotiabank argument include improving economic conditions in LATAM and potential upside from its share of earnings in KEY."