0949 ET - As with the other big Canadian banks that have reported this earnings season, National Bank's 1Q EPS beat was driven by very strong trading revenue that was partially offset by higher credit-loss provisions, TD Cowen says. Adjusted EPS at C$2.93 was up 13% on-year and topped TD's forecast for C$2.76. It notes provisions were elevated, reflecting higher commercial losses and performing loan reserves amid tariff uncertainty. Overal, TD views the numbers positively. It has a hold call and C$135 target on the shares, which are down 2.8% so far in 2025 and last closed at C$127.44. (robb.stewart@wsj.com)
(END) Dow Jones Newswires
February 26, 2025 09:49 ET (14:49 GMT)
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