The Globe and Mail reports in its Friday, Dec. 6, edition that RBC Dominion Securities analyst Darko Mihelic is keeping his "sector perform" call on National Bank of Canada intact. The Globe's David Leeder writes in the Eye On Equities column that Mr. Mihelic's share target soared $18 to $134. Analysts on average target the shares at $138.69. Acknowledging National Bank's fourth quarter was "tough," Mr. Mihelic sees "peaking" provisions for credit losses and an earlier close of its acquisition of Canadian Western Bank as a "positive." Mr. Mihelic says in a note: "National Bank's Q4/24 results were lower than we expected primarily in P&C and wealth. Impaired PCLs increased 19 per cent quarter-over-quarter overall but lumpiness happens with PCLs. In our view, credit is manageable and will likely peak in 2025, paving the way for earnings growth in 2026 and beyond. We also expect the [Canadian Western Bank] acquisition to close earlier than we did previously and while this dilutes down 2025 EPS and ROE, it also gets National Bank moving earlier on synergies (capital, expenses, and revenues). ... Overall, our core EPS estimates decrease to $10.70 (was $11.28) in 2025 and $11.57 (was $11.76) for 2026."