Bank of Nova Scotia (TSE:BNS) Upgraded at TD Securities

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) was upgraded by equities researchers at TD Securities from a “hold” rating to a “buy” rating in a research note issued on Monday, MarketBeat reports. The firm currently has a C$80.00 price objective on the bank’s stock, up from their prior price objective of C$71.00. TD Securities’ price target would indicate a potential upside of 8.81% from the stock’s previous close.

A number of other brokerages have also issued reports on BNS. Jefferies Financial Group increased their target price on Bank of Nova Scotia from C$65.00 to C$69.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. CIBC raised shares of Bank of Nova Scotia from a “neutral” rating to an “outperform” rating and increased their price objective for the company from C$78.00 to C$82.00 in a report on Friday, September 20th. Cibc World Mkts upgraded shares of Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 20th. Cormark reduced their price target on shares of Bank of Nova Scotia from C$68.00 to C$65.00 and set a “market perform” rating for the company in a research report on Tuesday, August 20th. Finally, BMO Capital Markets lowered their price objective on Bank of Nova Scotia from C$74.00 to C$72.00 and set a “market perform” rating on the stock in a report on Wednesday, August 28th. Ten investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of C$69.00.

Bank of Nova Scotia Stock Performance

Shares of Bank of Nova Scotia stock opened at C$73.52 on Monday. The firm has a 50-day simple moving average of C$71.17 and a two-hundred day simple moving average of C$66.47. Bank of Nova Scotia has a fifty-two week low of C$56.83 and a fifty-two week high of C$74.77. The company has a market cap of C$91.16 billion, a P/E ratio of 12.88, a price-to-earnings-growth ratio of 1.33 and a beta of 0.97.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last announced its quarterly earnings results on Tuesday, August 27th. The bank reported C$1.63 earnings per share for the quarter, meeting the consensus estimate of C$1.63. The firm had revenue of C$8.36 billion during the quarter, compared to analyst estimates of C$8.50 billion. Bank of Nova Scotia had a return on equity of 9.49% and a net margin of 25.38%. Equities research analysts forecast that Bank of Nova Scotia will post 7.1286267 EPS for the current year.

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.