The Globe and Mail reports in its Wednesday, May 4, edition that Credit Suisse analyst Kevin Choquette expects continued volatility in Canadian bank stocks based on elevated short interest. The Globe's David Leeder writes in the Eye On Equities column that Mr. Choquette says in a note: "Canadian banks have rallied 19 per cent off 2016 lows and are up 9 per cent year to date, outperforming the TSX up 7 per cent, U.S. major banks down 7 per cent and Canadian lifecos down 3 per cent. Short interest remains near record highs, however, given the strength in the rally and risk of higher energy provisions in the upcoming quarter (February/March redeterminations), although very manageable, we see some near-term trading risk." In a research note on the sector, Mr. Choquette downgraded National Bank of Canada ($42.70) to "neutral" from "outperform" based on its strong performance thus far in 2016, up 10 per cent, as well as valuation "recovery" and higher-than-average exposure to the energy sector. He moved his target price for the stock to $50 from $48. Analysts on average target the shares at $45.25. The Globe's Scott Barlow recommended buying National Bank on March 24. The shares could then be had for $43.