01:12 PM EDT, 08/28/2024 (MT Newswires) -- RBC has raised its target on Scotiabank by $3, to $65 and reiterated its Sector Perform rating.

Scotiabank's third quarter results were in line with RBC's expectations and consensus. "Credit quality remained stable QoQ, we like the larger than expected build of performing PCLs while impaired PCLs were below our estimate, and there were no notable signs of Canadian credit deterioration," analyst Darko Mihelic writes.

"We sense that BNS is working away at its longer-term plan and things still seem to be going smoothly."

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