Canadian lenders are set for a dramatic expansion in P/E multiples, says Scotiabank's Kevin...

|By:, SA News Editor

Canadian lenders are set for a dramatic expansion in P/E multiples, says Scotiabank's Kevin Choquette, believing the slowdown in the country's real estate market is more than discounted in bank stock prices. His favorite pick is Imperial Bank (CM) as it's restructured to lessen its reliance on mortgage banking.