RBC Capital Markets raised its price target on National Bank of Canada (NA.TO) to $148 from $144 on Thursday.
Analyst Darko Mihelic maintained a Sector Perform rating on shares of the Canadian bank following its quarterly results.
"NA had another solid quarter of trading results," Mihelic said in a note to clients.
"Credit quality was mostly as expected and NA maintained its impaired PCL guidance for the year (we model PCLs to moderate into 2026) although relative to peers we view NA's allowance as slightly less conservative (a strong trading quarter afforded 'room' for higher stage 2 PCLs)," the analyst said.
"NA's integration of CWB is under way and it had already transitioned one portfolio to AIRB which we view positively," Mihelic said. "We suspect more capital benefits will be realized in 2026."
(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)
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