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

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its price target raised by research analysts at CIBC from C$82.00 to C$84.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. CIBC’s price target suggests a potential upside of 6.37% from the company’s current price.

Several other analysts have also commented on BNS. Barclays raised shares of Bank of Nova Scotia from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 21st. BMO Capital Markets lifted 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. Cormark reduced their target price on shares of Bank of Nova Scotia from C$68.00 to C$65.00 and set a “market perform” rating for the company in a research note on Tuesday, August 20th. TD Securities boosted their price objective on shares of Bank of Nova Scotia from C$80.00 to C$82.00 in a research note on Friday, November 15th. Finally, Canaccord Genuity Group raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating and boosted their price objective for the company from C$71.00 to C$84.00 in a research note on Tuesday, November 19th. Seven equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$76.00.

Bank of Nova Scotia Stock Performance

Shares of Bank of Nova Scotia stock traded down C$0.02 during trading hours on Tuesday, reaching C$78.97. The company’s stock had a trading volume of 1,235,361 shares, compared to its average volume of 4,244,621. Bank of Nova Scotia has a one year low of C$56.83 and a one year high of C$79.38. The company has a market capitalization of C$97.92 billion, a P/E ratio of 13.80, a P/E/G ratio of 1.33 and a beta of 0.97. The stock’s fifty day simple moving average is C$73.64 and its two-hundred day simple moving average is C$67.72.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last released its quarterly earnings results on Tuesday, August 27th. The bank reported C$1.63 earnings per share for the quarter, meeting analysts’ consensus estimates of C$1.63. The company had revenue of C$8.36 billion for the quarter, compared to analyst estimates 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, research analysts forecast that Bank of Nova Scotia will post 7.1286267 earnings per share for the current year.

Bank of Nova Scotia Company Profile

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.