BMO Capital Markets Increases Bank of Nova Scotia (BNS) Price Target to C$85.00
Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its price objective hoisted by BMO Capital Markets from C$83.00 to C$85.00 in a research note issued to investors on Wednesday. The firm currently has an “outperform” rating on the bank’s stock. BMO Capital Markets’ target price suggests a potential upside of 9.41% from the company’s current price.
Several other research analysts have also commented on the company. Scotiabank lifted their price target on Bank of Nova Scotia from C$86.00 to C$89.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 31st. Barclays PLC lifted their price target on Bank of Nova Scotia from C$84.00 to C$86.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 30th. Finally, Royal Bank Of Canada lifted their price target on Bank of Nova Scotia from C$86.00 to C$87.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 31st. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of C$85.08.
Shares of Bank of Nova Scotia (TSE:BNS) opened at 77.69 on Wednesday. Bank of Nova Scotia has a one year low of $68.27 and a one year high of $82.30. The company’s 50-day moving average price is $77.71 and its 200 day moving average price is $77.83. The stock has a market capitalization of $93.37 billion and a PE ratio of 12.12.
Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last released its quarterly earnings results on Tuesday, May 30th. The bank reported $1.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.56 by $0.07. The company had revenue of $6.58 billion during the quarter, compared to analyst estimates of $6.61 billion. Bank of Nova Scotia had a return on equity of 14.58% and a net margin of 31.32%. Analysts anticipate that Bank of Nova Scotia will post $6.53 EPS for the current year.
In other Bank of Nova Scotia news, Director Brian J. Porter bought 1,000 shares of the company’s stock in a transaction on Thursday, June 8th. The stock was acquired at an average price of C$77.74 per share, for a total transaction of C$77,740.00.
About Bank of Nova Scotia
The Bank of Nova Scotia is an international bank and a financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. The Bank 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.
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