Bank of Nova Scotia (TSE:BNS) Upgraded to “Outperform” by CIBC

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) was upgraded by investment analysts at CIBC from a “neutral” rating to an “outperform” rating in a report issued on Friday, BayStreet.CA reports. The firm currently has a C$82.00 target price on the bank’s stock, up from their previous target price of C$78.00. CIBC’s price objective would indicate a potential upside of 12.24% from the company’s previous close.

Other analysts have also issued research reports about the company. TD Securities boosted their price target on Bank of Nova Scotia from C$69.00 to C$71.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. BMO Capital Markets decreased their price objective on Bank of Nova Scotia from C$74.00 to C$72.00 and set a “market perform” rating for the company in a report on Wednesday, August 28th. UBS Group set a C$67.00 target price on shares of Bank of Nova Scotia and gave the stock a “neutral” rating in a report on Tuesday, July 2nd. Jefferies Financial Group boosted their price target on shares of Bank of Nova Scotia from C$65.00 to C$69.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Finally, National Bankshares dropped their price objective on shares of Bank of Nova Scotia from C$67.00 to C$66.00 and set a “sector perform” rating on the stock in a research note on Wednesday, May 29th. Eleven analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of C$68.25.

Bank of Nova Scotia Stock Up 1.5 %

BNS traded up C$1.05 on Friday, reaching C$73.06. 3,828,191 shares of the company traded hands, compared to its average volume of 4,063,675. The company has a market cap of C$90.59 billion, a P/E ratio of 12.79, a price-to-earnings-growth ratio of 1.33 and a beta of 0.96. Bank of Nova Scotia has a one year low of C$55.20 and a one year high of C$73.09. The firm has a fifty day simple moving average of C$65.69 and a two-hundred day simple moving average of C$65.41.

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.