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National Bank of Canada Upgraded to Buy at Desjardins

BY MT Newswires | ECONOMIC | 11/12/25 08:08 AM EST

08:08 AM EST, 11/12/2025 (MT Newswires) -- National Bank of Canada (NTIOF) was upgraded to Buy from Hold at Desjardins.

Analyst Doug Young raised his price target on shares of the Montreal-based bank to $167 from $149.

"...We are upgrading NA to Buy from Hold, as we see benefits from the Canadian Western Bank integration (cost and revenue synergies), a strong capital position, and room for upward estimate revisions if management can hit its cash ROE objective in FY27," Young said in a note to clients.

"First, we should learn more about the capital benefits from migrating CWB's models to AIRB shortly. Second, we believe management will outline a clear roadmap to restore the bank's ROE to industry leading again. Third, we should get a clearer picture on the CWB expense and potential revenue synergies, with 4Q FY25 results."

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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