Bank of Nova Scotia (TSE:BNS) Stock Rating Upgraded by Canaccord Genuity Group

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) was upgraded by equities researchers at Canaccord Genuity Group from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage currently has a C$84.00 price objective on the bank’s stock, up from their previous price objective of C$71.00. Canaccord Genuity Group’s target price would suggest a potential upside of 6.72% from the stock’s previous close.

Several other research analysts also recently commented on the company. Cormark reduced their target price on Bank of Nova Scotia from C$68.00 to C$65.00 and set a “market perform” rating on the stock in a report on Tuesday, August 20th. Cibc World Mkts upgraded shares of Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 20th. BMO Capital Markets raised their target price on Bank of Nova Scotia from C$72.00 to C$84.00 in a report on Monday. Royal Bank of Canada upped their price objective on shares of Bank of Nova Scotia from C$62.00 to C$65.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 28th. Finally, CIBC upgraded shares of Bank of Nova Scotia from a “neutral” rating to an “outperform” rating and upped their price target for the company from C$78.00 to C$82.00 in a report on Friday, September 20th. Seven analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$74.75.

Bank of Nova Scotia Trading Up 0.4 %

TSE:BNS opened at C$78.71 on Tuesday. The business’s fifty day moving average price is C$73.12 and its 200 day moving average price is C$67.40. Bank of Nova Scotia has a 1-year low of C$56.83 and a 1-year high of C$78.99. The firm has a market capitalization of C$97.60 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 1.33 and a beta of 0.97.

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, meeting the consensus estimate of C$1.63. Bank of Nova Scotia had a return on equity of 9.49% and a net margin of 25.38%. The company had revenue of C$8.36 billion for the quarter, compared to the consensus estimate of C$8.50 billion. Equities 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.