The Globe and Mail reports in its Wednesday, Nov. 26, edition that Raymond James analyst Stephen Boland has reaffirmed his "outperform" recommendation for Bank of Nova Scotia. The Globe's David Leeder writes in the Eye On Equities column that Mr. Boland continues to target the shares at $108. Analysts on average target the shares at $93.92. Mr. Boland says in a note: "After several years of relative underperformance, Scotiabank's recent results are showing a number of encouraging developments. Under new management, the bank has scaled back exposure to underperforming markets, boosting profitability across its international operations and keeping performance ahead of the bank's 2023 Investor Day targets. Global banking and markets also continues to demonstrate strength, with a rising ROE and growth in the important U.S. market. With its valuation still lagging peers, we see potential for Scotiabank's multiple to expand as the ROE improves, while the stock also offers investors an attractive yield of 4.6 per cent. ... We recommend that Canadian investors maintain exposure within the sector, and we encourage U.S. investors to look North for opportunities."