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

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its price target hoisted by equities research analysts at CIBC from C$93.00 to C$100.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. CIBC’s price objective indicates a potential upside of 6.84% from the company’s current price.

BNS has been the subject of several other research reports. TD Securities boosted their price objective on shares of Bank of Nova Scotia from C$93.00 to C$99.00 in a research report on Monday, November 10th. Bank of America upped their target price on shares of Bank of Nova Scotia from C$78.00 to C$88.00 in a research report on Wednesday, August 27th. National Bankshares set a C$81.00 price objective on shares of Bank of Nova Scotia and gave the company a “sector perform” rating in a research note on Monday, September 22nd. Canaccord Genuity Group upped their price target on shares of Bank of Nova Scotia from C$87.00 to C$90.00 and gave the company a “buy” rating in a report on Wednesday, August 27th. Finally, Barclays lifted their price objective on Bank of Nova Scotia from C$81.00 to C$86.00 in a research report on Wednesday, August 27th. Three research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of C$87.36.

Bank of Nova Scotia Price Performance

BNS traded down C$1.20 during trading hours on Wednesday, reaching C$93.60. The company’s stock had a trading volume of 1,730,490 shares, compared to its average volume of 4,759,858. The business’s 50-day moving average is C$90.79 and its 200-day moving average is C$81.30. Bank of Nova Scotia has a fifty-two week low of C$62.57 and a fifty-two week high of C$95.35. The stock has a market cap of C$116.29 billion, a PE ratio of 17.90, a P/E/G ratio of 1.33 and a beta of 1.33.

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.