Bank of Nova Scotia (TSE:BNS) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its price target upped by equities research analysts at Canaccord Genuity Group from C$80.00 to C$81.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the bank’s stock. Canaccord Genuity Group’s price target would suggest a potential upside of 8.74% from the stock’s previous close.

Several other equities analysts have also weighed in on BNS. CIBC lifted their price objective on Bank of Nova Scotia from C$75.00 to C$77.00 in a research note on Thursday, May 22nd. Bank of America cut Bank of Nova Scotia from a “buy” rating to a “neutral” rating and decreased their target price for the stock from C$82.00 to C$70.00 in a report on Monday, March 31st. National Bankshares boosted their target price on Bank of Nova Scotia from C$71.00 to C$72.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 28th. Barclays decreased their target price on Bank of Nova Scotia from C$81.00 to C$78.00 and set an “equal weight” rating for the company in a report on Monday, June 9th. Finally, UBS Group decreased their target price on Bank of Nova Scotia from C$85.00 to C$78.00 in a report on Thursday, May 22nd. Nine investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Bank of Nova Scotia presently has an average rating of “Hold” and an average price target of C$77.31.

Bank of Nova Scotia Trading Down 0.2%

Bank of Nova Scotia stock opened at C$74.49 on Tuesday. The firm has a market capitalization of C$91.28 billion, a P/E ratio of 11.77, a PEG ratio of 1.33 and a beta of 0.97. The stock has a fifty day moving average price of C$71.36 and a 200 day moving average price of C$71.86. Bank of Nova Scotia has a 52 week low of C$60.68 and a 52 week high of C$80.14.

Bank of Nova Scotia Company Profile

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.