National Bankshares Forecasts Strong Price Appreciation for Bank of Nova Scotia (TSE:BNS) Stock

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its target price upped by stock analysts at National Bankshares from C$66.00 to C$78.00 in a note issued to investors on Wednesday,BayStreet.CA reports. National Bankshares’ target price suggests a potential downside of 0.64% from the stock’s current price.

Other analysts have also issued reports about the stock. UBS Group upgraded shares of Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a report on Monday. CIBC upgraded shares of Bank of Nova Scotia from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from C$78.00 to C$82.00 in a report on Friday, September 20th. Bank of America upgraded shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating and lifted their target price for the company from C$73.00 to C$90.00 in a report on Tuesday. Royal Bank of Canada upped their price target on Bank of Nova Scotia from C$62.00 to C$65.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 28th. Finally, TD Securities lifted their price objective on Bank of Nova Scotia from C$80.00 to C$82.00 in a research note on Friday, November 15th. Seven analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Bank of Nova Scotia has an average rating of “Moderate Buy” and a consensus target price of C$74.75.

Bank of Nova Scotia Price Performance

Bank of Nova Scotia stock opened at C$78.50 on Wednesday. The stock has a market cap of C$97.34 billion, a price-to-earnings ratio of 13.75, a price-to-earnings-growth ratio of 1.33 and a beta of 0.97. The firm has a 50 day simple moving average of C$73.29 and a 200-day simple moving average of C$67.50. Bank of Nova Scotia has a 1-year low of C$56.83 and a 1-year high of C$79.16.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last posted 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. 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 during the quarter, compared to analysts’ expectations of C$8.50 billion. Equities analysts expect that Bank of Nova Scotia will post 7.1286267 earnings per share for the current fiscal 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.