Latest news with #SohrabMovahedi
Globe and Mail
2 days ago
- Business
- Globe and Mail
Do Canadians trust their banks? A BMO analyst's survey tried to find out
Daily roundup of research and analysis from The Globe and Mail's market strategist Scott Barlow BMO analyst Sohrab Movahedi summarized a survey designed to understand Canadian consumers' trust in their banks. 'Survey results revealed that 27% would switch banks for lower fees, with 'Big 6' customers showing greater price sensitivity. Despite this, 22% indicated strong loyalty by stating they would never switch. Trust influences loyalty; those with high trust in financial advice and pricing are twice as likely to remain with their banks, while those lacking trust consider switching for better fees or service. … This conclusion underscores trust as a critical element of loyalty and reminds banks of the imperative to deepen relationships and enhance value amidst rising price competition and competition from digital and non-traditional banking alternatives … Our surveys over the past decade show a majority of respondents trust their banks to safeguard their money and personal data, with 54% expressing a 'high degree of trust.' However, skepticism exists regarding fair pricing and financial advice, with only 35% and 38% expressing a high degree of trust, respectively. Our 'trust' score based on the survey results indicates a decline in trust since 2022. Among the 'Big 5' (ex NA) banks, our survey results show CM has improved its trust ranking (likely a successful reflection of its advice-first strategy to offset high customer price sensitivity). BNS has experienced a continuous decline in ranking since 2019 while the rest have largely seen a stable trust score in our surveys over the years.' *** RBC Capital Markets head of global energy research Greg Pardy attaches the oil and gas sector to Canadian independence from our dysfunctional neighbors. 'The connection between Canada's sovereignty and urgency to grow its energy exports has intensified under the vision of Prime Minister Carney and Minister of Energy and Natural Resources Hodgson. An ongoing state of emergency precipitated by the Trump administration's decision to implement tactical tariffs on its northern neighbor has spurred the new federal government to shape Canada into an energy superpower. Enhanced oil export diversification—and carbon competitiveness in the oil sands to futureproof markets down the road—could be the next big steps in Canada's journey … Anchored by the fourth-largest proven oil reserves worldwide, Canada has emerged as an energy powerhouse, with output that has grown from 2.0 million bbl/d in 2000 to 5.3 million bbl/d this year … If ever there were a ripe opportunity for Canada to reform select federal policies involving energy, it is now. With the incumbent Liberal Party of Canada seeking to bolster Canadian energy security, the door appears to be wide open for bipartisan cooperation with the Conservative Party of Canada to reform energy legislation and advance infrastructure investment. Mr. Pardy's Global Energy Best Ideas List of top sector stock picks can be found here. *** In the dividend-heavy energy infrastructure sector, CIBC analyst Robert Catellier likes the stocks most exposed to U.S. natural gas, 'Following reported results, it's clear to see that exposure to U.S. infrastructure, and natural gas in particular, is driving growth and share price performance. Given the healthier growth dynamics in that market, including higher project returns and the widening permitting/regulatory gap to Canada, we expect this trend to continue. It's not a surprise that we've noticed a relative flight to safety, with flows into the larger-cap companies where investors have access to market liquidity and exposure to low-multiple build projects in the U.S. without taking much in the way of commodity price exposure. The names that best fit this theme include ENB, TRP and WMB. Subsequent to the quarter, we upgraded WMB to Outperformer from Neutral, while raising the price target to US$64 (from US$61)' *** Bluesky post of the day: Diversion: 'Scientists Uncover Hidden Link Between Cholesterol Flow and Alzheimer's Disease' - SciTechDaily
Yahoo
29-05-2025
- Business
- Yahoo
BMO Capital Maintains Hold Rating on Scotiabank (BNS) As Provision for Credit Losses Increase
On May 28, BMO Capital analyst Sohrab Movahedi maintained a Hold rating on The Bank of Nova Scotia (NYSE:BNS) and kept the price target at C$79. The update comes after the company released its fiscal second-quarter results for 2025. The bank released its second-quarter results on May 27, missing analyst estimates as credit loss provision continued to rise. The Bank of Nova Scotia (NYSE:BNS) delivered revenue of $6.57 billion, reflecting a 7.37% year-over-year increase, exceeding analyst consensus by $83.95 million. However, the EPS of $1.10 missed the consensus by $0.03. A businessman's hand pointing to a graph on a projector screen illustrating economic trends. The provision for credit losses increased from $1.007 billion a year ago to $1.398 billion. Canadians are not spending as much as expected because of tariffs imposed by the United States, said the executives of the bank. Therefore, the bank kept a higher amount of money on the side to cover these losses. The Bank of Nova Scotia (NYSE:BNS) also known as Scotiabank is a Canadian chartered bank that provides banking, global wealth management, global banking and markets, and other related services. While we acknowledge the potential of BNS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than BNS and that has 100x upside potential, check out our report about the . READ NEXT: and . Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
