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

Bank of Nova Scotia (TSE:BNS - Get Free Report) NYSE: BNS was upgraded by TD Securities from a "hold" rating to a "buy" rating in a research note issued to investors on Monday, BayStreet.CA reports. The firm presently has a C$80.00 target price on the bank's stock, up from their previous target price of C$71.00. TD Securities' target price suggests a potential upside of 8.49% from the stock's previous close.

Other research analysts have also recently issued research reports about the stock. Cormark decreased their price objective on shares of Bank of Nova Scotia from C$68.00 to C$65.00 and set a "market perform" rating for the company in a report on Tuesday, August 20th. Cibc World Mkts raised Bank of Nova Scotia from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 20th. Jefferies Financial Group increased their price target on Bank of Nova Scotia from C$65.00 to C$69.00 and gave the stock a "hold" rating in a report on Wednesday, August 28th. CIBC raised Bank of Nova Scotia from a "neutral" rating to an "outperform" rating and raised their price target for the stock from C$78.00 to C$82.00 in a research report on Friday, September 20th. Finally, BMO Capital Markets decreased their price objective on Bank of Nova Scotia from C$74.00 to C$72.00 and set a "market perform" rating for the company in a research report on Wednesday, August 28th. Ten analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of C$69.00.

Bank of Nova Scotia Price Performance

Shares of Bank of Nova Scotia stock traded up C$1.30 on Monday, hitting C$73.74. 6,473,570 shares of the company's stock traded hands, compared to its average volume of 4,326,831. The firm's 50-day moving average price is C$70.99 and its two-hundred day moving average price is C$66.42. The stock has a market capitalization of C$91.44 billion, a PE ratio of 12.91, a price-to-earnings-growth ratio of 1.33 and a beta of 0.97. Bank of Nova Scotia has a one year low of C$56.83 and a one year high of C$74.77.

Bank of Nova Scotia (TSE:BNS - Get Free Report) NYSE: BNS last released its earnings results on Tuesday, August 27th. The bank reported C$1.63 earnings per share for the quarter, meeting the consensus estimate of C$1.63. The firm had revenue of C$8.36 billion for the quarter, compared to analyst estimates of C$8.50 billion. Bank of Nova Scotia had a return on equity of 9.49% and a net margin of 25.38%. On average, analysts forecast that Bank of Nova Scotia will post 7.1286267 earnings per share for the current fiscal 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 Wealth Management, and Global Banking and Markets segments.