National Bank of Canada (TSE:NA) Stock Price Expected to Rise, Scotiabank Analyst Says

Key Points

• Scotiabank raised its price target on National Bank of Canada from C$159 to C$166 and maintained an "outperform" rating, implying roughly a 0.55% upside from the prior close.
• Analyst views are mixed—several upgrades (including CIBC and Desjardins) and some downgrades/target cuts (RBC), leaving a consensus rating of Hold with an average target of C$150.77.
• The stock traded up about 0.9% to C$165.09, trading near its 12‑month high (C$165.17) with a market cap of C$64.74 billion and a trailing P/E of 16.27.

National Bank of Canada (TSE:NA - Get Free Report) had its price objective increased by research analysts at Scotiabank from C$159.00 to C$166.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The firm presently has an "outperform" rating on the financial services provider's stock. Scotiabank's price target indicates a potential upside of 0.55% from the stock's previous close.

Several other research firms also recently weighed in on NA. Cibc World Mkts upgraded National Bank of Canada from a "strong sell" rating to a "hold" rating in a research report on Friday, August 1st. Royal Bank Of Canada decreased their price objective on National Bank of Canada from C$152.00 to C$148.00 and set a "sector perform" rating on the stock in a report on Thursday, August 28th. CIBC lifted their target price on shares of National Bank of Canada from C$154.00 to C$166.00 in a research note on Wednesday, November 19th. Desjardins upgraded shares of National Bank of Canada from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, November 11th. Finally, Barclays boosted their price target on shares of National Bank of Canada from C$147.00 to C$158.00 and gave the stock an "equal weight" rating in a research report on Monday. Three investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of C$150.77.

National Bank of Canada Trading Up 0.9%

TSE:NA traded up C$1.44 during trading hours on Tuesday, reaching C$165.09. 433,055 shares of the company were exchanged, compared to its average volume of 1,816,546. The firm has a market cap of C$64.74 billion, a PE ratio of 16.27, a price-to-earnings-growth ratio of 7.14 and a beta of 1.08. National Bank of Canada has a twelve month low of C$106.67 and a twelve month high of C$165.17. The stock's 50-day moving average is C$154.51 and its 200-day moving average is C$145.29.

National Bank of Canada Company Profile

National Bank of Canada is the sixth-largest Canadian bank. The bank offers integrated financial services, primarily in the province of Quebec as well as the city of Toronto. Operational segments include personal and commercial banking, wealth management, and a financial markets group.

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