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 objective hoisted by equities 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 would indicate a potential upside of 5.63% from the company’s previous close.

Several other research analysts also recently weighed in on the company. UBS Group upgraded Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 18th. Jefferies Financial Group upped their target price on shares of Bank of Nova Scotia from C$65.00 to C$69.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. National Bankshares lifted their price target on shares of Bank of Nova Scotia from C$66.00 to C$78.00 in a report on Wednesday, November 20th. Barclays raised shares of Bank of Nova Scotia from a “strong sell” rating to a “hold” rating in a report on Thursday, November 21st. Finally, TD Securities raised their price objective on Bank of Nova Scotia from C$80.00 to C$82.00 in a research report on Friday, November 15th. Seven investment 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 stock. Based on data from MarketBeat.com, Bank of Nova Scotia currently has a consensus rating of “Moderate Buy” and a consensus price target of C$76.00.

Bank of Nova Scotia Stock Performance

Shares of Bank of Nova Scotia stock opened at C$79.52 on Tuesday. The company has a fifty day moving average of C$73.96 and a 200 day moving average of C$67.92. The company has a market capitalization of C$98.60 billion, a P/E ratio of 13.93, a P/E/G ratio of 1.33 and a beta of 0.97. Bank of Nova Scotia has a fifty-two week low of C$56.83 and a fifty-two week high of C$79.70.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last released its earnings results on Tuesday, August 27th. The bank reported C$1.63 earnings per share (EPS) for the quarter, hitting the consensus estimate of C$1.63. The firm had revenue of C$8.36 billion during the quarter, compared to analysts’ expectations of C$8.50 billion. Bank of Nova Scotia had a return on equity of 9.49% and a net margin of 25.38%. Analysts forecast that Bank of Nova Scotia will post 7.1286267 EPS 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.