Royal Bank of Canada Issues Pessimistic Forecast for Bank of Nova Scotia (TSE:BNS) Stock Price

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its price objective lowered by stock analysts at Royal Bank of Canada from C$83.00 to C$81.00 in a research report issued on Wednesday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the bank’s stock. Royal Bank of Canada’s price target indicates a potential upside of 12.94% from the company’s current price.

Other analysts also recently issued reports about the stock. Barclays upgraded shares of Bank of Nova Scotia from a “strong sell” rating to a “hold” rating in a report on Thursday, November 21st. National Bankshares lifted their price objective on shares of Bank of Nova Scotia from C$66.00 to C$78.00 in a report on Wednesday, November 20th. Cibc World Mkts downgraded shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. BMO Capital Markets boosted their target price on shares of Bank of Nova Scotia from C$72.00 to C$84.00 in a report on Monday, November 18th. Finally, Accountability Research set a C$82.00 target price on shares of Bank of Nova Scotia and gave the stock a “buy” rating in a report on Thursday, January 9th. Nine analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Bank of Nova Scotia has an average rating of “Hold” and an average target price of C$78.17.

Bank of Nova Scotia Stock Down 0.9 %

TSE BNS opened at C$71.72 on Wednesday. Bank of Nova Scotia has a 12-month low of C$60.68 and a 12-month high of C$80.14. The company has a market capitalization of C$87.89 billion, a PE ratio of 11.33, a price-to-earnings-growth ratio of 1.33 and a beta of 0.97. The firm’s 50 day moving average is C$74.25 and its 200-day moving average is C$72.93.

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.