Canaccord Genuity Group Forecasts Strong Price Appreciation for Bank of Nova Scotia (TSE:BNS) Stock

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its price target upped by stock analysts at Canaccord Genuity Group from C$98.00 to C$100.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. Canaccord Genuity Group’s price target suggests a potential upside of 1.70% from the company’s previous close.

Several other brokerages have also recently weighed in on BNS. CIBC increased their price target on shares of Bank of Nova Scotia from C$93.00 to C$100.00 in a research report on Wednesday, November 19th. Bank of America increased their target price on shares of Bank of Nova Scotia from C$78.00 to C$88.00 in a report on Wednesday, August 27th. Jefferies Financial Group raised their target price on Bank of Nova Scotia from C$86.00 to C$96.00 in a research note on Tuesday, November 25th. Raymond James Financial set a C$108.00 price target on Bank of Nova Scotia and gave the company an “outperform” rating in a report on Tuesday, November 25th. Finally, TD Securities increased their price objective on Bank of Nova Scotia from C$93.00 to C$99.00 in a report on Monday, November 10th. Four investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of C$91.77.

Bank of Nova Scotia Price Performance

BNS opened at C$98.33 on Wednesday. The stock’s 50 day simple moving average is C$92.50 and its 200 day simple moving average is C$83.29. The firm has a market cap of C$122.17 billion, a price-to-earnings ratio of 18.80, a PEG ratio of 1.33 and a beta of 1.33. Bank of Nova Scotia has a 1 year low of C$62.57 and a 1 year high of C$99.37.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last released its quarterly earnings data on Tuesday, December 2nd. The bank reported C$1.93 earnings per share for the quarter. Bank of Nova Scotia had a return on equity of 9.64% and a net margin of 17.68%.The firm had revenue of C$9.77 billion during the quarter. As a group, sell-side analysts anticipate that Bank of Nova Scotia will post 7.1286267 EPS for the current year.

About Bank of Nova Scotia

Bank of Nova Scotia is a global financial services provider. The bank has five business segments: Canadian banking, international banking, global wealth management, global banking and markets, and other. It offers a range of advice, products, and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.