Bank of Nova Scotia (TSE:BNS) Stock Rating Upgraded by CIBC

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) was upgraded by analysts at CIBC from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Friday, BayStreet.CA reports. The firm currently has a C$82.00 price target on the bank’s stock, up from their prior price target of C$78.00. CIBC’s price objective would suggest a potential upside of 12.24% from the stock’s current price.

Other research analysts also recently issued reports about the stock. Canaccord Genuity Group boosted their target price on shares of Bank of Nova Scotia from C$70.00 to C$71.00 and gave the company a “hold” rating in a research report on Wednesday, May 29th. Cormark lowered their target price on Bank of Nova Scotia from C$68.00 to C$65.00 and set a “market perform” rating on the stock in a research note on Tuesday, August 20th. UBS Group set a C$67.00 price target on Bank of Nova Scotia and gave the company a “neutral” rating in a research report on Tuesday, July 2nd. TD Securities boosted their price target on Bank of Nova Scotia from C$69.00 to C$71.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Finally, BMO Capital Markets cut their target price on shares of Bank of Nova Scotia from C$74.00 to C$72.00 and set a “market perform” rating for the company in a report on Wednesday, August 28th. Eleven research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Bank of Nova Scotia presently has a consensus rating of “Hold” and a consensus target price of C$68.25.

Bank of Nova Scotia Price Performance

BNS traded up C$1.05 during trading on Friday, reaching C$73.06. 3,828,191 shares of the company’s stock were exchanged, compared to its average volume of 4,063,675. Bank of Nova Scotia has a 1 year low of C$55.20 and a 1 year high of C$73.09. The company’s fifty day simple moving average is C$65.69 and its 200-day simple moving average is C$65.41. The stock has a market capitalization of C$90.59 billion, a P/E ratio of 12.79, a price-to-earnings-growth ratio of 1.33 and a beta of 0.96.

Bank of Nova Scotia Company Profile

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.