Bank of Nova Scotia (TSE:BNS) Stock Rating Upgraded by CIBC

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) was upgraded by CIBC from a “neutral” rating to an “outperform” rating in a report issued on Friday, BayStreet.CA reports. The brokerage presently has a C$82.00 price objective on the bank’s stock, up from their prior price objective of C$78.00. CIBC’s price target suggests a potential upside of 11.79% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Canaccord Genuity Group lifted their price target on Bank of Nova Scotia from C$70.00 to C$71.00 and gave the stock a “hold” rating in a research report on Wednesday, May 29th. UBS Group set a C$67.00 price target on Bank of Nova Scotia and gave the stock a “neutral” rating in a research report on Tuesday, July 2nd. BMO Capital Markets decreased their target price on Bank of Nova Scotia from C$74.00 to C$72.00 and set a “market perform” rating for the company in a research report on Wednesday, August 28th. TD Securities boosted their target price on Bank of Nova Scotia from C$69.00 to C$71.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Finally, Royal Bank of Canada boosted their target price on Bank of Nova Scotia from C$62.00 to C$65.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 28th. Eleven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of C$68.25.

Bank of Nova Scotia Stock Up 1.9 %

Shares of BNS stock opened at C$73.35 on Friday. The stock has a fifty day moving average of C$65.88 and a 200 day moving average of C$65.46. Bank of Nova Scotia has a 52 week low of C$54.29 and a 52 week high of C$73.53. The firm has a market capitalization of C$90.95 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 1.33 and a beta of 0.96.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last announced its quarterly earnings results on Tuesday, August 27th. The bank reported C$1.63 EPS for the quarter, hitting analysts’ consensus estimates of C$1.63. The company had revenue of C$8.36 billion during the quarter, compared to analyst estimates of C$8.50 billion. Bank of Nova Scotia had a return on equity of 9.49% and a net margin of 25.38%. Equities research analysts anticipate that Bank of Nova Scotia will post 7.0938104 earnings per share 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.