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

$56.45 +0.23 (+0.41%)

(As of 11/22/2024 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

Moderate Buy

Based on 9 Analyst Ratings

Sell
0

Hold
3

Buy
6

Based on 9 Wall Street analysts who have issued ratings for Bank of Nova Scotia in the last 12 months, the stock has a consensus rating of "Moderate Buy." Out of the 9 analysts, 3 have given a hold rating, 5 have given a buy rating, and 1 has given a strong buy rating for BNS.

Consensus Price Target

$69.00
22.23% Upside

According to the 9 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 22.23% from the current price of $56.45.

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BNS Analyst Ratings Over Time

Type	Current Forecast 11/24/23 to 11/23/24	1 Month Ago 10/25/23 to 10/24/24	3 Months Ago 8/26/23 to 8/25/24	1 Year Ago 11/24/22 to 11/24/23
Strong Buy	1 Strong Buy rating(s)	1 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	5 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	0 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	22.23% Upside	31.49% Upside	40.44% Upside	56.76% Upside
Consensus Rating	Moderate Buy	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	2.78	2.49	2.50
Consensus Rating	Moderate Buy	Hold	Moderate Buy
Predicted Upside	22.23% Upside	10.24% Upside	7.66% 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
11/21/2024	Barclays 3 of 5 stars	B. Morton Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Underweight ➝ Equal Weight
11/19/2024	Canaccord Genuity Group 1 of 5 stars		Upgrade	Hold ➝ Buy
11/19/2024	Bank of America 4 of 5 stars		Upgrade	Neutral ➝ Buy
11/18/2024	UBS Group Subscribe to MarketBeat All Access for the recommendation accuracy rating	J. Shea Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Neutral ➝ Buy
11/4/2024	TD Securities Subscribe to MarketBeat All Access for the recommendation accuracy rating	M. Mendonca Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Hold ➝ Buy
9/20/2024	Cibc World Mkts Subscribe to MarketBeat All Access for the recommendation accuracy rating	P. Holden Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Hold ➝ Strong-Buy
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%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Saturday at 11:09 PM 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 Friday, November 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 has recently shown strong institutional interest, with significant increases in holdings from various hedge funds, indicating confidence in the bank's future performance.
The current stock price is $53.04, reflecting a 2.2% increase, which suggests positive market sentiment and potential for further growth.
The bank reported a quarterly earnings per share (EPS) of $1.63, exceeding analyst expectations, which demonstrates its ability to generate profits effectively.
With a dividend yield of 5.88% and a recent dividend payout of $0.768, The Bank of Nova Scotia offers attractive income potential for investors seeking regular returns.
The bank's market capitalization stands at $65.64 billion, indicating a stable and established presence in the financial sector, which can provide a sense of security for investors.

Bank of Nova Scotia
Bear Case

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

The bank has a relatively high dividend payout ratio of 74.88%, which may raise concerns about sustainability, especially in times of economic downturns.
Despite recent positive earnings, the bank's revenue of $8.36 billion fell short of the consensus estimate of $8.53 billion, indicating potential challenges in meeting growth expectations.
Analysts have mixed ratings on the stock, with a consensus rating of "Hold," suggesting that there may not be strong bullish sentiment among market experts.
The stock has a beta of 1.05, indicating that it is slightly more volatile than the market, which could pose risks for conservative investors.
With a one-year high of $55.12, the stock is approaching its peak, which may limit upside potential for new investors entering at this price point.

BNS Forecast - Frequently Asked Questions

: According to the research reports of 9 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.
: 9 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Bank of Nova Scotia in the last year. There are currently 3 hold ratings, 5 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street research analysts is that investors should "moderate buy" BNS shares.
: According to analysts, Bank of Nova Scotia's stock has a predicted upside of 22.23% based on their 12-month stock forecasts.
: Over the previous 90 days, Bank of Nova Scotia's stock had 7 upgrades by analysts.
: Bank of Nova Scotia has been rated by research analysts at Bank of America, Barclays, Canaccord Genuity Group, Canaccord Genuity Group, Cibc World Mkts, TD Securities, and UBS Group in the past 90 days.
: Analysts like Bank of Nova Scotia more than other "finance" companies. The consensus rating for Bank of Nova Scotia is Moderate Buy while the average consensus rating for "finance" companies is Hold. Learn more on how BNS compares to other companies.

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This page (NYSE:BNS) was last updated on 11/23/2024 by MarketBeat.com Staff

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