Royal Bank of Canada Boosts Bank of Nova Scotia (TSE:BNS) Price Target to C$83.00

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its target price increased by equities researchers at Royal Bank of Canada from C$74.00 to C$83.00 in a research note issued on Wednesday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the bank’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 11.63% from the company’s previous close.

Several other brokerages also recently commented on BNS. Barclays raised shares of Bank of Nova Scotia from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 21st. Canaccord Genuity Group upgraded shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating and increased their target price for the stock from C$71.00 to C$84.00 in a report on Tuesday, November 19th. TD Securities reduced their price target on Bank of Nova Scotia from C$82.00 to C$81.00 and set a “buy” rating on the stock in a report on Wednesday, December 4th. National Bankshares upped their price objective on shares of Bank of Nova Scotia from C$66.00 to C$78.00 in a report on Wednesday, November 20th. Finally, 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. Seven equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$77.55.

Bank of Nova Scotia Stock Down 0.5 %

Shares of BNS traded down C$0.36 during trading hours on Wednesday, hitting C$74.35. The company had a trading volume of 2,624,156 shares, compared to its average volume of 7,408,255. The firm has a market cap of C$92.19 billion, a P/E ratio of 13.02, a P/E/G ratio of 1.33 and a beta of 0.97. Bank of Nova Scotia has a 52-week low of C$60.68 and a 52-week high of C$80.14. The stock’s 50 day moving average price is C$76.83 and its 200 day moving average price is C$70.38.

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.