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

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its price objective lifted by analysts at CIBC from C$100.00 to C$103.00 in a research note issued on Thursday,BayStreet.CA reports. The brokerage presently has a “neutral” rating on the bank’s stock. CIBC’s price target would suggest a potential upside of 2.47% from the stock’s current price.

Several other analysts have also recently issued reports on the company. Barclays raised their target price on Bank of Nova Scotia from C$95.00 to C$97.00 in a research note on Wednesday, December 3rd. BMO Capital Markets lifted their price objective on Bank of Nova Scotia from C$89.00 to C$93.00 in a research report on Wednesday, December 3rd. Bank of America boosted their target price on Bank of Nova Scotia from C$78.00 to C$88.00 in a research note on Wednesday, August 27th. Royal Bank Of Canada raised their price target on Bank of Nova Scotia from C$80.00 to C$86.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 27th. Finally, National Bankshares set a C$81.00 price target on shares of Bank of Nova Scotia and gave the company a “sector perform” rating in a report on Monday, September 22nd. Four research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of C$92.00.

Bank of Nova Scotia Stock Performance

BNS traded up C$0.32 during trading on Thursday, reaching C$100.52. The stock had a trading volume of 1,004,945 shares, compared to its average volume of 4,733,675. The business has a 50-day moving average of C$93.28 and a 200-day moving average of C$84.15. Bank of Nova Scotia has a one year low of C$62.57 and a one year high of C$100.75. The stock has a market cap of C$125.21 billion, a PE ratio of 17.73, a PEG ratio of 1.33 and a beta of 1.35.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last announced its quarterly earnings data on Tuesday, December 2nd. The bank reported C$1.93 earnings per share (EPS) for the quarter. Bank of Nova Scotia had a net margin of 17.68% and a return on equity of 9.64%. The company had revenue of C$9.77 billion during the quarter. Equities research analysts forecast that Bank of Nova Scotia will post 7.1286267 EPS for the current fiscal year.

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.