The Globe and Mail reports in its Tuesday, Nov. 7, edition that Desjardins analyst Doug Young is projecting average cash earnings per share growth for Canada's major banks of 7 per cent year over year in the fourth quarter. The Globe's David Leeder writes that in a preview of the sector's earnings season, scheduled to begin on Nov. 28 with Bank of Nova Scotia, Mr. Young says Canadian personal and commercial banking will be an important area of focus. He says in a note: "While most banks have already provided some guidance on mortgage loan growth expectations, we will be looking for any updates following the finalization of the Guideline B-20 update on Oct. 17. With two rate hikes by the Bank of Canada now in the bag, will the banks provide additional information on interest rate sensitivity? For the Big 6 banks in 4Q FY17, we expect loan growth of 5 per cent year over year, a 1 basis point increase in net interest margins on average both quarter-over-quarter and year-over-year, a 106 basis points year-over-year decline in NIX ratios and a PCL rate down 2 bps year over year." He continues to rate Bank of Nova Scotia "buy," while hiking his share target $89 from $87, $9 above the consensus.