Scotiabank Forecasts Strong Price Appreciation for National Bank of Canada (TSE:NA) Stock

National Bank of Canada (TSE:NA) had its price target hoisted by Scotiabank from C$129.00 to C$154.00 in a report published on Monday,BayStreet.CA reports.

NA has been the subject of several other research reports. BMO Capital Markets boosted their price objective on shares of National Bank of Canada from C$125.00 to C$143.00 in a research report on Monday, November 18th. Desjardins lifted their price target on shares of National Bank of Canada from C$116.00 to C$118.00 and gave the stock a “hold” rating in a research note on Tuesday, August 6th. Cibc World Mkts downgraded shares of National Bank of Canada from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 20th. CIBC cut National Bank of Canada from an “outperform” rating to a “neutral” rating in a research report on Friday, September 20th. Finally, Cormark boosted their target price on National Bank of Canada from C$122.00 to C$128.00 in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, National Bank of Canada currently has a consensus rating of “Hold” and a consensus price target of C$132.40.

National Bank of Canada Trading Down 0.4 %

Shares of NA opened at C$137.92 on Monday. The firm’s fifty day simple moving average is C$131.55 and its 200-day simple moving average is C$120.84. The firm has a market capitalization of C$46.95 billion, a price-to-earnings ratio of 13.43, a PEG ratio of 7.14 and a beta of 1.12. National Bank of Canada has a twelve month low of C$88.22 and a twelve month high of C$139.18.

National Bank of Canada (TSE:NA) last announced its quarterly earnings results on Wednesday, August 28th. The financial services provider reported C$2.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$2.50 by C$0.18. The company had revenue of C$2.98 billion during the quarter, compared to the consensus estimate of C$2.95 billion. National Bank of Canada had a return on equity of 15.18% and a net margin of 34.50%. On average, analysts predict that National Bank of Canada will post 10.8360791 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other National Bank of Canada news, Director Yvon Charest acquired 285 shares of the stock in a transaction on Tuesday, November 19th. The shares were bought at an average price of C$133.71 per share, with a total value of C$38,107.35. 0.21% of the stock is owned by insiders.

About National Bank of Canada

National Bank of Canada provides financial services to individuals, businesses, institutional clients, and governments in Canada and internationally. It operates through four segments: Personal and Commercial, Wealth Management, Financial Markets, and U.S. Specialty Finance and International. The Personal and Commercial segment offers personal banking services, including transaction solutions, mortgage loans and home equity lines of credit, consumer loans, payment solutions, and savings and investment solutions; various insurance products; and commercial banking services, such as credit, and deposit, investment solutions, international trade, foreign exchange transactions, payroll, cash management, insurance, electronic transactions, and complimentary services.