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Daily roundup of research and analysis from The Globe and Mail’s market strategist Scott Barlow

Banks

Scotiabank bank analyst Mike Rizvanovic sees growing earnings power at the big five,

“Earnings in Q4-F25 for the large banks came in comfortably above expectations by an average of 7 per cent with an across-the-board EPS beat. Share prices have rallied by 4 per cent since the beginning of earnings season, led by RY (up 6 per cent), CM (up 5 per cent), and BNS (up 4 per cent), and BMO trailing with a more modest 1-per-cent increase. The movement in share prices has modestly outpaced the increase in EPS consensus for F2027, which is up an average of 2.4 per cent (CM was at the top end with up 3.8 per cent and BNS trailed at up 0.4 per cent), driving very modest multiple expansi

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