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

$53.04

+1.14 (+2.20%)

(As of 11/4/2024 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 6 Analyst Ratings

Sell
1

Hold
3

Buy
2

Based on 6 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 6 analysts, 1 has given a sell rating, 3 have given a hold rating, 1 has given a buy rating, and 1 has given a strong buy rating for BNS.

Consensus Price Target

$69.00
30.09% Upside

According to the 6 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 30.09% from the current price of $53.04.

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BNS Analyst Ratings Over Time

Type	Current Forecast 11/6/23 to 11/5/24	1 Month Ago 10/7/23 to 10/6/24	3 Months Ago 8/8/23 to 8/7/24	1 Year Ago 11/6/22 to 11/6/23
Strong Buy	1 Strong Buy rating(s)	1 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	1 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	30.09% Upside	30.04% Upside	49.37% Upside	60.29% Upside
Consensus Rating	Hold	Hold	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	2.33	2.47	2.50
Consensus Rating	Hold	Hold	Hold
Predicted Upside	30.09% Upside	17.58% Upside	10.47% 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
11/4/2024	TD Securities 4 of 5 stars	M. Mendonca Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Hold ➝ Buy
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 Subscribe to MarketBeat All Access for the recommendation accuracy rating		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 Tuesday at 07:30 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 22, 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 stock price has shown a consistent upward trend, reaching $54.41 on the latest trading day, indicating potential for capital appreciation.
The Bank of Nova Scotia has a market capitalization of $65.24 billion, reflecting the company's size and stability in the market.
Analysts have given The Bank of Nova Scotia an average rating of "Hold" with a consensus target price of $69.00, suggesting potential for growth.
Institutional investors like Eldred Rock Partners LLC and Mackenzie Financial Corp have been increasing their holdings in The Bank of Nova Scotia, indicating confidence in the company's performance.
The Bank of Nova Scotia has a diversified portfolio of financial services, including banking, wealth management, and insurance, providing stability and growth opportunities.

Bank of Nova Scotia
Bear Case

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

Despite recent positive performance, The Bank of Nova Scotia's stock has a one year high of $55.12, which may indicate limited short-term upside potential.
Some research analysts have issued sell ratings on The Bank of Nova Scotia, suggesting potential risks associated with the company's stock.
The Bank of Nova Scotia's price-to-earnings ratio of 11.95 and price-to-earnings-growth ratio of 1.71 may indicate that the stock is currently overvalued compared to its growth prospects.
Market volatility and economic uncertainties could impact The Bank of Nova Scotia's financial performance and stock price in the short term.
The Bank of Nova Scotia faces competition from other major financial institutions, which could affect its market share and profitability in the long run.

BNS Forecast - Frequently Asked Questions

: According to the research reports of 6 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.
: 6 Wall Street research 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, 1 buy rating and 1 strong buy rating for the stock. The consensus among Wall Street research 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 30.09% based on their 12-month stock forecasts.
: Over the previous 90 days, Bank of Nova Scotia's stock had 2 upgrades by analysts.
: Bank of Nova Scotia has been rated by research analysts at Cibc World Mkts, and TD Securities 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 2.33 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 11/5/2024 by MarketBeat.com Staff

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