Barclays Forecasts Strong Price Appreciation for Bank of Nova Scotia (TSE:BNS) Stock

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its price objective lifted by research analysts at Barclays from C$95.00 to C$97.00 in a report issued on Wednesday,BayStreet.CA reports. Barclays‘s price target points to a potential downside of 0.75% from the stock’s current price.

A number of other research analysts also recently issued reports on the company. Desjardins boosted their price target on Bank of Nova Scotia from C$79.00 to C$85.00 and gave the company a “hold” rating in a report on Wednesday, August 27th. TD Securities boosted their target price on shares of Bank of Nova Scotia from C$93.00 to C$99.00 in a research note on Monday, November 10th. Bank of America increased their price target on shares of Bank of Nova Scotia from C$78.00 to C$88.00 in a report on Wednesday, August 27th. CIBC lifted their price objective on shares of Bank of Nova Scotia from C$93.00 to C$100.00 in a report on Wednesday, November 19th. Finally, Raymond James Financial set a C$108.00 price objective on shares of Bank of Nova Scotia and gave the stock an “outperform” rating in a research report on Tuesday, November 25th. Four investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, Bank of Nova Scotia has a consensus rating of “Hold” and an average price target of C$91.77.

Bank of Nova Scotia Trading Down 1.0%

Shares of TSE:BNS traded down C$0.99 on Wednesday, hitting C$97.73. 2,566,703 shares of the company were exchanged, compared to its average volume of 4,741,416. The firm has a market capitalization of C$121.43 billion, a P/E ratio of 18.69, a price-to-earnings-growth ratio of 1.33 and a beta of 1.33. Bank of Nova Scotia has a 1-year low of C$62.57 and a 1-year high of C$99.37. The stock’s 50 day moving average price is C$92.15 and its 200 day moving average price is C$83.08.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last issued its quarterly earnings results on Tuesday, December 2nd. The bank reported C$1.93 EPS for the quarter. Bank of Nova Scotia had a return on equity of 9.64% and a net margin of 17.68%.The company had revenue of C$9.77 billion during the quarter. On average, equities analysts predict that Bank of Nova Scotia will post 7.1286267 EPS for the current fiscal year.

About Bank of Nova Scotia

Bank of Nova Scotia is a global financial services provider. The bank has five business segments: Canadian banking, international banking, global wealth management, global banking and markets, and other. It offers a range of advice, products, and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.