Barclays analyst Brian Morton initiated coverage of National Bank of Canada with an Overweight rating and C$130 price target. The analyst launched coverage on Canada and Latin America Banks with a Positive industry view. The firm prefers Mexico over Canada given current trends in net interest margin, economy, deposits, loans, returns, credit quality, capital, earnings and valuation. Exposure to residential mortgage loans is an additional concern in Canada, the analyst tells investors in a research note.
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