Bank of Nova Scotia (TSE:BNS) Downgraded to “Hold” Rating by Cibc World Mkts

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) was downgraded by investment analysts at Cibc World Mkts from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other analysts also recently issued reports on the stock. TD Securities decreased their price objective on shares of Bank of Nova Scotia from C$82.00 to C$81.00 and set a “buy” rating for the company in a report on Wednesday, December 4th. Jefferies Financial Group decreased their price target on shares of Bank of Nova Scotia from C$81.00 to C$77.00 in a report on Tuesday. Royal Bank of Canada raised their price target on Bank of Nova Scotia from C$74.00 to C$83.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 8th. Accountability Research set a C$82.00 price objective on Bank of Nova Scotia and gave the stock a “buy” rating in a research report on Thursday, January 9th. Finally, UBS Group raised Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a report on Monday, November 18th. Nine analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of C$78.33.

Bank of Nova Scotia Stock Down 0.0 %

Shares of Bank of Nova Scotia stock opened at C$72.40 on Tuesday. Bank of Nova Scotia has a 12-month low of C$60.68 and a 12-month high of C$80.14. The stock has a 50 day moving average price of C$74.97 and a two-hundred day moving average price of C$72.59. The stock has a market capitalization of C$88.72 billion, a P/E ratio of 11.44, a PEG ratio of 1.33 and a beta of 0.97.

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.