Bank of Nova Scotia (TSE:BNS) Upgraded by Canaccord Genuity to Buy

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) was upgraded by equities research analysts at Canaccord Genuity to a “buy” rating in a research note issued to investors on Wednesday, TipRanks reports. The firm presently has a C$87.00 price target on the bank’s stock. Canaccord Genuity’s price objective suggests a potential upside of 3.78% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Barclays restated an “equal weight” rating and issued a C$83.00 price objective (down previously from C$86.00) on shares of Bank of Nova Scotia in a report on Wednesday, September 8th. Credit Suisse Group raised their price objective on shares of Bank of Nova Scotia to C$84.00 and gave the stock an “outpeform” rating in a research report on Wednesday, August 25th. National Bank Financial raised their price objective on shares of Bank of Nova Scotia to C$86.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 25th. TD Securities dropped their price target on shares of Bank of Nova Scotia from C$90.00 to C$87.00 and set a “buy” rating for the company in a research report on Wednesday, August 25th. Finally, CIBC lifted their price target on shares of Bank of Nova Scotia from C$90.00 to C$96.00 in a research report on Monday. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of C$87.28.

Shares of TSE BNS traded up C$0.61 during trading hours on Wednesday, hitting C$83.83. 684,314 shares of the company’s stock were exchanged, compared to its average volume of 3,912,304. The company’s 50-day moving average price is C$80.32 and its 200-day moving average price is C$79.82. The stock has a market capitalization of C$101.86 billion and a price-to-earnings ratio of 11.72. Bank of Nova Scotia has a 1-year low of C$63.20 and a 1-year high of C$83.99.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last posted its quarterly earnings data on Tuesday, August 24th. The bank reported C$2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of C$1.89 by C$0.12. The firm had revenue of C$7.76 billion for the quarter, compared to analyst estimates of C$7.74 billion. On average, research analysts predict that Bank of Nova Scotia will post 8.0100001 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 Banking and Markets, and Global Wealth Management segments.

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Analyst Recommendations for Bank of Nova Scotia (TSE:BNS)

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