CIBC Has Lowered Expectations for Bank of Nova Scotia (TSE:BNS) Stock Price

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its price target dropped by analysts at CIBC from C$81.00 to C$75.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. CIBC’s price objective points to a potential upside of 8.89% from the stock’s current price.

A number of other research firms also recently weighed in on BNS. BMO Capital Markets upped their target price on Bank of Nova Scotia from C$72.00 to C$84.00 in a report on Monday, November 18th. TD Securities set a C$81.00 target price on Bank of Nova Scotia and gave the stock a “buy” rating in a report on Tuesday. UBS Group upgraded Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a report on Monday, November 18th. Cibc World Mkts downgraded Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Finally, Bank of America upgraded Bank of Nova Scotia from a “neutral” rating to a “buy” rating and upped their target price for the stock from C$73.00 to C$90.00 in a report on Tuesday, November 19th. Eight analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Bank of Nova Scotia presently has an average rating of “Hold” and an average target price of C$78.55.

Bank of Nova Scotia Price Performance

Shares of TSE:BNS opened at C$68.88 on Wednesday. Bank of Nova Scotia has a 1 year low of C$60.68 and a 1 year high of C$80.14. The stock’s 50-day moving average is C$73.59 and its 200 day moving average is C$73.20. The company has a market cap of C$84.41 billion, a PE ratio of 10.88, a P/E/G ratio of 1.33 and a beta of 0.97.

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.