DA Davidson analyst Jeff Rulis raised the firm’s price target on National Bank to $38 from $36 and keeps a Buy rating on the shares. The company’s Q2 earnings missed expectations but its non-accrual increase appears to be headed for a swift resolution, its core fee income is at a higher run rate than previously expected, and its CET1 levels are “stout” at 11.1%, the analyst tells investors in a research note.
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