Today’s Rating: Bank of Nova Scotia (TSE:BNS) Had Its Target Price per Share Upped by Professional Analysts at Barclays Capital to $68.00

November 30, 2016 - By Linda Rogers

Bank of Nova Scotia (TSE:BNS) Target Raised

In a note released by Barclays Capital on Tuesday, 29 November, Bank of Nova Scotia (TSE:BNS) had its target price per share increased to $68.00. The firm at present has “Equal-Weight” rating on the stock.

Bank of Nova Scotia (TSE:BNS) Ratings Coverage

Out of 9 analysts covering Bank of Nova Scotia (TSE:BNS), 7 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 78% are positive. $78 is the highest target while $45 is the lowest. The $72.42 average target is -1.74% below today’s ($73.7) stock price. Bank of Nova Scotia has been the topic of 36 analyst reports since August 4, 2015 according to StockzIntelligence Inc. RBC Capital Markets maintained Bank of Nova Scotia (TSE:BNS) rating on Wednesday, December 2. RBC Capital Markets has “Outperform” rating and $72 price target. The firm earned “Buy” rating on Friday, January 8 by Desjardins Securities. KBW maintained the shares of BNS in a report on Tuesday, August 18 with “Market Perform” rating. The firm has “Buy” rating by Dundee Securities given on Wednesday, September 21. The firm earned “Sector Perform” rating on Tuesday, August 4 by National Bank Canada. The stock of Bank of Nova Scotia (TSE:BNS) has “Buy” rating given on Tuesday, November 1 by Bank of America. IBC maintained Bank of Nova Scotia (TSE:BNS) rating on Monday, August 17. IBC has “Sector Perform” rating and $66 price target. The firm has “Outperform” rating by RBC Capital Markets given on Wednesday, June 1. The stock of Bank of Nova Scotia (TSE:BNS) has “Outperform” rating given on Wednesday, August 31 by RBC Capital Markets.

The stock increased 1.63% or $1.18 on November 29, hitting $73.7. About 2.97 million shares traded hands or 80.00% up from the average. Bank of Nova Scotia (TSE:BNS) has risen 12.97% since April 26, 2016 and is uptrending. It has outperformed by 7.74% the S&P500.

The Bank of Nova Scotia is an international bank and a financial services well-known provider in North America, Latin America, the Caribbean and Central America, and parts of Asia. The company has a market cap of $88.57 billion. The Company’s divisions include Canadian Banking, International Banking, Global Banking and Markets (GBM), and Other. It has a 13.05 P/E ratio. The Bank offers range of advice, services and products, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.

According to Zacks Investment Research, “Bank of Nova Scotia is one of North America’s premier financial institutions and Canada’s most international bank. They offer a diverse range of products and services including personal, commercial, corporate and investment banking. Scotiabank has built long-term value and recorded consistent earnings growth by building on its core strengths and by executing exceptionally well in its core businesses. These include Domestic Banking, Wealth Management, International Banking and Scotia Capital.”

More recent Bank of Nova Scotia (TSE:BNS) news were published by: Nasdaq.com which released: “Earnings Reaction History: Bank of Nova Scotia, 25.0% Follow-Through Indicator …” on November 29, 2016. Also Fool.ca published the news titled: “Bank of Nova Scotia Offers the Best Growth Potential of Canada’s Banks” on November 15, 2016. Fool.ca‘s news article titled: “TFSA Investors: Why Bank of Nova Scotia Is a Better Pick Than Bonds” with publication date: October 31, 2016 was also an interesting one.

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