Analyst Ratings Coverage
Barclays Capital(Rank#6), a leading global investment bank, recently announced a downward revision of its target price for shares of National Bank of Canada, one of the country’s prominent financial institutions. The revised 12 month target forecast of $82 represents a significant reduction from the previous estimate of $98.
One of the primary reasons for Barclays Capital’s target cut is the prevailing economic uncertainty. Despite the gradual recovery from the COVID-19 pandemic, concerns about global economic growth and potential headwinds in various sectors persist.
Another influential factor contributing to the target cut is the interest rate environment. With central banks worldwide adopting accommodative monetary policies, low interest rates can squeeze profit margins for banks. As National Bank of Canada’s profitability could be affected by these market conditions, Barclays Capital has adjusted its target price to reflect the potential impact on the bank’s financial performance.
Barclays Capital’s decision to cut the target price on National Bank of Canada reflects a combination of factors such as economic uncertainty, interest rate dynamics. While the revision may unsettle some investors, it is essential to approach investment decisions with a long-term perspective and consider a range of factors beyond target prices.
NA Stock Forecast & Analysis
The National Bank of Canada has stock forecasts from 17 different analysts. The result is that the average analyst target price for National Bank of Canada is CAD 104.18 over the next 12 month period. The stock’s consensus analyst rating is a “Buy”. Stock Target Advisor’s own stock analysis of National Bank of Canada is Slightly Bullish , which is based on 8 positive signals and 5 negative signals. At the last closing, National Bank of Canada’s stock price was CAD 101.18. National Bank of Canada’s stock price has changed by +0.61% over the past week, +4.22% over the past month and +13.18% over the last year”