Bank of Nova Scotia (BNS) Stock Forecast & Price Target

$53.06

+0.31 (+0.59%)

(As of 10/4/2024 ET)

Bank of Nova Scotia - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Hold

Based on 5 Analyst Ratings

Sell
1

Hold
3

Buy
1

Based on 5 Wall Street analysts who have issued ratings for Bank of Nova Scotia in the last 12 months, the stock has a consensus rating of "Hold." Out of the 5 analysts, 1 has given a sell rating, 3 have given a hold rating, and 1 has given a strong buy rating for BNS.

Consensus Price Target

$69.00
30.04% Upside

According to the 5 analysts' twelve-month price targets for Bank of Nova Scotia, the average price target is $69.00. The highest price target for BNS is $70.00, while the lowest price target for BNS is $68.00. The average price target represents a forecasted upside of 30.04% from the current price of $53.06.

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BNS Analyst Ratings Over Time

Type	Current Forecast 10/6/23 to 10/5/24	1 Month Ago 9/6/23 to 9/5/24	3 Months Ago 7/8/23 to 7/7/24	1 Year Ago 10/6/22 to 10/6/23
Strong Buy	1 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	0 Buy rating(s)	0 Buy rating(s)	0 Buy rating(s)	0 Buy rating(s)
Hold	3 Hold rating(s)	3 Hold rating(s)	4 Hold rating(s)	3 Hold rating(s)
Sell	1 Sell rating(s)	1 Sell rating(s)	1 Sell rating(s)	1 Sell rating(s)
Consensus Price Target	$69.00	$69.00	$68.00	$69.33
Forecasted Upside	30.04% Upside	36.28% Upside	50.41% Upside	59.53% Upside
Consensus Rating	Hold	Reduce	Reduce	Reduce

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BNS Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

BNS Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Bank of Nova Scotia Stock vs. The Competition

Type	Bank of Nova Scotia	Finance Companies	S&P 500
Consensus Rating Score	2.20	2.47	2.50
Consensus Rating	Hold	Hold	Moderate Buy
Predicted Upside	30.04% Upside	14.87% Upside	6.99% Upside
News Sentiment Rating	Positive News See Recent BNS News	Positive News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
9/20/2024	Cibc World Mkts 0 of 5 stars	P. Holden Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Hold ➝ Strong-Buy
7/2/2024	UBS Group 4 of 5 stars	J. Shea Subscribe to MarketBeat All Access for the recommendation accuracy rating	Initiated Coverage	Neutral
3/20/2024	Barclays 3 of 5 stars		Initiated Coverage	Underweight	$70.00	+41.33%
2/22/2024	Jefferies Financial Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Hold
11/29/2023	BMO Capital Markets Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Market Perform ➝ Market Perform	$73.00 ➝ $68.00	+60.34%
8/30/2023	Scotiabank Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Hold ➝ Hold	$68.00 ➝ $66.00	+38.95%
3/1/2023	Royal Bank of Canada Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Sector Perform	$86.00 ➝ $77.00	+54.74%
3/1/2023	Canaccord Genuity Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Buy ➝ Hold

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Saturday at 07:53 AM ET.

Should I Buy Bank of Nova Scotia Stock? BNS Pros and Cons Explained

These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Tuesday, October 1, 2024. Please send any questions or comments about these Bank of Nova Scotia pros and cons to contact@marketbeat.com.

Bank of Nova Scotia
Bull Case

Here are some ways that investors could benefit from investing in The Bank of Nova Scotia:

The Bank of Nova Scotia has shown consistent growth in its stock price, trading at $54.41 on the market.
The bank has a strong return on equity of 11.14%, indicating efficient use of shareholder funds.
Bank of Nova Scotia has a diverse range of services, including retail, commercial, and investment banking, providing stability and multiple revenue streams.
With a market capitalization of $65.30 billion, The Bank of Nova Scotia is a well-established financial institution with a solid presence in the market.
The bank's recent quarterly earnings report exceeded expectations, showcasing its financial strength and performance.

Bank of Nova Scotia
Bear Case

Investors should be bearish about investing in The Bank of Nova Scotia for these reasons:

Bank of Nova Scotia's stock price has a 12-month high of $55.12, potentially limiting short-term growth opportunities.
The bank's P/E ratio of 11.96 may indicate that the stock is currently overvalued compared to industry peers.
There are concerns about the bank's debt-to-equity ratio of 0.61, which may suggest higher financial leverage and risk.
Market analysts have issued mixed ratings on the stock, with some suggesting a sell rating, indicating uncertainty in the market sentiment towards The Bank of Nova Scotia.
While the bank has a strong presence in Canada, its international expansion may pose challenges in terms of regulatory compliance and market adaptation.

BNS Forecast - Frequently Asked Questions

: According to the research reports of 5 Wall Street equities research analysts, the average twelve-month stock price forecast for Bank of Nova Scotia is $69.00, with a high forecast of $70.00 and a low forecast of $68.00.
: 5 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Bank of Nova Scotia in the last twelve months. There is currently 1 sell rating, 3 hold ratings and 1 strong buy rating for the stock. The consensus among Wall Street analysts is that investors should "hold" BNS shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in BNS, but not buy additional shares or sell existing shares.
: According to analysts, Bank of Nova Scotia's stock has a predicted upside of 30.04% based on their 12-month stock forecasts.
: Over the previous 90 days, Bank of Nova Scotia's stock had 1 upgrade by analysts.
: Bank of Nova Scotia has been rated by research analysts at Cibc World Mkts in the past 90 days.
: Analysts like Bank of Nova Scotia less than other "finance" companies. The consensus rating score for Bank of Nova Scotia is 2.20 while the average consensus rating score for "finance" companies is 2.47. Learn more on how BNS compares to other companies.

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This page (NYSE:BNS) was last updated on 10/5/2024 by MarketBeat.com Staff

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