National Bank Financial Lowers Bank of Nova Scotia (TSE:BNS) Price Target to C$77.00

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its price objective reduced by investment analysts at National Bank Financial from C$79.00 to C$77.00 in a note issued to investors on Friday, BayStreet.CA reports. The firm presently has a “sector perform” rating on the bank’s stock. National Bank Financial’s target price indicates a potential upside of 5.18% from the stock’s previous close.

BNS has been the subject of several other reports. CIBC upped their price target on Bank of Nova Scotia from C$77.00 to C$81.00 in a research note on Thursday, November 21st. TD Securities dropped their price target on Bank of Nova Scotia from C$79.00 to C$77.00 and set a “hold” rating for the company in a research note on Wednesday, November 27th. Royal Bank of Canada lowered their target price on Bank of Nova Scotia from C$80.00 to C$78.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 27th. Desjardins increased their target price on Bank of Nova Scotia from C$80.00 to C$82.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Canaccord Genuity increased their target price on Bank of Nova Scotia from C$74.00 to C$77.00 in a research note on Monday, November 25th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of C$78.60.

TSE:BNS traded down C$0.25 on Friday, hitting C$73.21. 1,014,300 shares of the stock were exchanged, compared to its average volume of 2,797,251. The stock has a market cap of $87.59 billion and a PE ratio of 10.97. The stock has a fifty day moving average of C$73.39 and a 200-day moving average of C$72.97. Bank of Nova Scotia has a fifty-two week low of C$67.17 and a fifty-two week high of C$76.75.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last announced its quarterly earnings results on Tuesday, November 26th. The bank reported C$1.82 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of C$1.82. The firm had revenue of C$7.97 billion for the quarter, compared to analyst estimates of C$7.98 billion. Research analysts expect that Bank of Nova Scotia will post 7.7399993 EPS for the current year.

About Bank of Nova Scotia

The Bank of Nova Scotia provides various banking products and services in North America, Latin America, the Caribbean and Central America, and the Asia-Pacific. The company offers financial advice and solutions, and day-to-day banking products, including debit and credit cards, chequing and saving accounts, investments, mortgages, loans, and related creditor insurance to individuals and small businesses; and commercial banking solutions comprising lending, deposit, cash management, and trade finance solutions to medium and large businesses, including automotive dealers and their customers.

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Analyst Recommendations for Bank of Nova Scotia (TSE:BNS)

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