** Canadian lender Scotiabank's BNS.TO shares fall as much as 2.1%; last down 1.1% to C$67.58
** BofA Global Research downgrades company's shares to "neutral" from "buy" given worsening economic outlook and the bank's exposure to Mexico
** BofA Economics earlier this month downgraded the outlook for Mexico's economy, noting the country is "likely in a technical recession"
** Brokerage's meetings with "Big Six" banks' management teams last week indicated stalled customer activity and expectations for higher rainy-day funds
** BofA believes a truce on U.S. tariffs could jumpstart customer activity into late 2025 and into 2026
** 4 of 15 brokerages rate the stock "buy" or higher, 9 "hold" and 2 "sell"; median PT C$79, according to data compiled by LSEG
** As of last close, Scotiabank's shares down 11.4% YTD
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com))
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