The Globe and Mail reports in its Friday, Sept. 6, edition that wrapping up third quarter earnings season for Canadian banks, CIBC World Markets analyst Paul Holden raised his share target for National Bank of Canada to a street high $135 from $134. The Globe's David Leeder writes that analysts on average target the shares at $125.54. Mr. Holden has reaffirmed his "outperformer" recommendation for National Bank. Mr. Holden says in a note: "The big banks delivered more EPS beats than misses as credit losses increased less than expected for the majority of banks. We can't sound the all clear on credit risk just yet, with BMO being the obvious case in point, but we are less concerned about F2025 credit losses and associated EPS downside today than we were prior to reporting. We have not made any rating changes around the quarter, and National Bank of Canada, Toronto-Dominion Bank and EQB remain our outperformer-rated names." The Globe reported on March 8 that Mr. Holden continued to rate National Bank "outperformer." The shares could then be had for $107.95. The Globe reported on Aug. 30 that Desjardins Securities analyst Doug Young continued to rate National Bank of Canada "hold." The shares could then be had for $124.
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