Bank of Nova Scotia (TSE:BNS) Stock Rating Upgraded by Bank of America

Bank of Nova Scotia (TSE:BNS - Get Free Report) NYSE: BNS was upgraded by investment analysts at Bank of America from a "neutral" rating to a "buy" rating in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The firm presently has a C$90.00 target price on the bank's stock, up from their previous target price of C$73.00. Bank of America's price target would suggest a potential upside of 15.07% from the company's previous close.

Other equities analysts also recently issued reports about the company. Cibc World Mkts upgraded Bank of Nova Scotia from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 20th. Royal Bank of Canada lifted their target price on Bank of Nova Scotia from C$62.00 to C$65.00 and gave the company a "sector perform" rating in a research note on Wednesday, August 28th. TD Securities boosted their price objective on Bank of Nova Scotia from C$80.00 to C$82.00 in a research report on Friday. CIBC upgraded Bank of Nova Scotia from a "neutral" rating to an "outperform" rating and upped their target price for the stock from C$78.00 to C$82.00 in a research report on Friday, September 20th. Finally, Jefferies Financial Group upped their price target on Bank of Nova Scotia from C$65.00 to C$69.00 and gave the company a "hold" rating in a report on Wednesday, August 28th. Eight research 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. Based on data from MarketBeat, Bank of Nova Scotia has a consensus rating of "Hold" and an average target price of C$73.75.

Bank of Nova Scotia Trading Up 1.0 %

Bank of Nova Scotia stock traded up C$0.78 during midday trading on Tuesday, hitting C$78.21. The stock had a trading volume of 1,542,500 shares, compared to its average volume of 4,256,993. The stock has a market cap of C$96.98 billion, a P/E ratio of 13.70, a P/E/G ratio of 1.33 and a beta of 0.97. Bank of Nova Scotia has a 12 month low of C$56.83 and a 12 month high of C$78.58. The business has a fifty day moving average price of C$72.71 and a 200 day moving average price of C$67.19.

Bank of Nova Scotia (TSE:BNS - Get Free Report) NYSE: BNS last announced its quarterly earnings data on Tuesday, August 27th. The bank reported C$1.63 earnings per share for the quarter, meeting the consensus estimate of C$1.63. Bank of Nova Scotia had a return on equity of 9.49% and a net margin of 25.38%. The firm had revenue of C$8.36 billion during the quarter, compared to analyst estimates of C$8.50 billion. On average, equities analysts anticipate that Bank of Nova Scotia will post 7.1286267 EPS for the current fiscal year.

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.

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