Bank of Nova Scotia (TSE:BNS) Stock Price Expected to Rise, CIBC Analyst Says

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its target price lifted by investment analysts at CIBC from C$82.00 to C$84.00 in a report released on Tuesday,BayStreet.CA reports. CIBC’s price target points to a potential upside of 6.37% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Cibc World Mkts raised Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 20th. Jefferies Financial Group increased their target price on shares of Bank of Nova Scotia from C$65.00 to C$69.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. UBS Group upgraded shares of Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 18th. BMO Capital Markets increased their target price on shares of Bank of Nova Scotia from C$72.00 to C$84.00 in a research note on Monday, November 18th. Finally, TD Securities increased their target price on shares of Bank of Nova Scotia from C$80.00 to C$82.00 in a research note on Friday, November 15th. Seven analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$76.00.

Bank of Nova Scotia Stock Performance

Shares of TSE:BNS traded down C$0.02 during midday trading on Tuesday, hitting C$78.97. 1,235,361 shares of the stock were exchanged, compared to its average volume of 4,244,621. Bank of Nova Scotia has a 52-week low of C$56.83 and a 52-week high of C$79.38. The business’s fifty day simple moving average is C$73.64 and its two-hundred day simple moving average is C$67.72. The company has a market capitalization of C$97.92 billion, a PE ratio of 13.80, a P/E/G ratio of 1.33 and a beta of 0.97.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last posted its earnings results on Tuesday, August 27th. The bank reported C$1.63 EPS for the quarter, hitting the consensus estimate of C$1.63. The firm had revenue of C$8.36 billion for the quarter, compared to the consensus estimate of C$8.50 billion. Bank of Nova Scotia had a net margin of 25.38% and a return on equity of 9.49%. As a group, equities analysts anticipate that Bank of Nova Scotia will post 7.1286267 EPS for the current year.

About Bank of Nova Scotia

The Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments.