Barlow’s Research Roundup: A BofA analyst’s top picks, earnings preview for Canadian bank stocks
A BofA analyst has highlighted TD and National as top picks among Canadian bank stocks, citing a positive economic environment and strong earnings growth. Despite concerns over domestic economic challenges and rising interest rates, the outlook remains optimistic due to anticipated EPS growth and share buybacks. The report also touches on the improving backdrop for industrial REITs and volatile copper trading influenced by strong Chinese demand and supply concerns.
- ▪BofA Securities analyst Ebrahim Poonawala has a constructive view on Canadian bank stocks, maintaining Buy ratings on four of the six banks.
- ▪The report indicates that rising interest rates pose significant risks, but net interest margins are expected to expand.
- ▪Scotiabank analyst Himanshu Gupta noted an improving backdrop for industrial REITs, suggesting a shift towards equilibrium in the market.
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ShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountDaily roundup of research and analysis from The Globe and Mail’s market strategist Scott BarlowTD, National are top picksBofA Securities analyst Ebrahim Poonawala previewed profit results for the major Canadian banks,“Canadian bank stocks have benefited from a positive halo effect - a resource-rich economy, pro-business Carney government. Combined with earnings growth momentum (capital markets, wealth, share buybacks), investors have been willing to look past a challenged domestic macro-economic backdrop (jobs, housing) and USMCA uncertainty …Given that our constructive view on the group (Buy ratings on four of the six banks) has been met with strong stock performance over the last 18 months - not always for…
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