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(KACPER PEMPEL/REUTERS)

Wednesday's analyst upgrades and downgrades

Inside the Market’s roundup of some of today’s key analyst actions. This file will be updated during the trading day.

Canadian banks may be due for a pause, although valuations don’t look so expensive as to suggest a pullback, Canaccord Genuity analyst Gabriel Dechaine said.

This year so far has been a good one for Canadian bank stocks, which may have caught investors by surprise, Mr. Dechaine said. Many expected loan growth to slow on rising interest rates and high household debt levels.