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National Bank of Canada Price Target Raised to $214 at RBC

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RBC Capital Markets raised its price target on National Bank of Canada (NA.TO) to $214 from $180 on Thursday.

Analyst Darko Mihelic maintained a Sector Perform rating on shares of the Canadian bank following its quarterly results.

"Core EPS was above our estimate primarily due to lower than expected PCLs," Mihelic said in a note to clients.

"Results were stronger than anticipated in Corporate, Capital Markets, and USSF&I, partially offset by weaker Canada P&C results," the analyst said.

"We model higher core EPS growth in H2/26 versus NA's guidance of in line with YTD growth though we have lower conviction in our estimate now that NA gave such guidance," Mihelic said. "We believe YTD core EPS growth can be exceeded if PCLs remain stable and expenses are moderating."

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