Canadian Bank Stocks could hit 2020 lows (RY:TSX) (CIBC:TSX) (TD:TSX) (BNS:TSX) (NA:TSX) (BMO:TSX)

STA Research
by: STA Research
Canadian Bank Stocks

STA Research CEO-Don Lawrence is very bearish on Canadian Bank stocks, as he believes Capital Market divisions will continue to add downward pressures on top line revenue. He also believes the other shoe is yet to drop, loan and mortgage defaults are set to soar as consumers grapple with historic inflation that could send bank stocks to March 2020 lows or beyond. Risk is abound here for banks in this environment. He suggests to wait out the turbulence and wait to buy lower for long term gains and increased dividend payouts, as yields will rise as shares drop.

 

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