TD Upgrades Bank of Nova Scotia (TSE:BNS) to "Buy"

Key Points

• TD upgraded Bank of Nova Scotia from “Hold” to “Buy” and raised its price target from C$124 to C$141, implying approximately 8.2% upside from the prior close.
• BNS shares rose 1.2% to C$130.31, near their 52-week high, while the bank reported quarterly revenue of C$10.54 billion and EPS of C$2.28.
• Analyst sentiment is broadly positive, with a MarketBeat consensus rating of “Moderate Buy” and an average price target of C$128.86, though trade uncertainty remains a potential risk.

Bank of Nova Scotia (TSE:BNS - Get Free Report) NYSE: BNS was upgraded by research analysts at TD from a "hold" rating to a "buy" rating in a research report issued on Wednesday,BayStreet.CA reports. The firm presently has a C$141.00 price target on the bank's stock, up from their prior price target of C$124.00. TD's price objective would indicate a potential upside of 8.20% from the company's previous close.

BNS has been the subject of a number of other research reports. National Bank Financial set a C$128.00 price target on shares of Bank of Nova Scotia and gave the stock a "sector perform" rating in a report on Monday. TD Securities upgraded Bank of Nova Scotia from a "hold" rating to a "strong-buy" rating in a research report on Tuesday. Barclays raised their target price on Bank of Nova Scotia from C$110.00 to C$130.00 in a research note on Friday, August 21st. Raymond James Financial lifted their target price on Bank of Nova Scotia from C$137.00 to C$139.00 and gave the company an "outperform" rating in a research report on Wednesday. Finally, Royal Bank Of Canada upped their price target on Bank of Nova Scotia from C$117.00 to C$129.00 and gave the company a "sector perform" rating in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Bank of Nova Scotia currently has a consensus rating of "Moderate Buy" and an average target price of C$128.86.

Bank of Nova Scotia Trading Up 1.2%

TSE BNS traded up C$1.58 on Wednesday, reaching C$130.31. 2,769,630 shares of the company were exchanged, compared to its average volume of 4,175,932. The business's fifty day moving average price is C$123.36 and its 200 day moving average price is C$110.70. The stock has a market capitalization of C$158.86 billion, a P/E ratio of 17.97, a price-to-earnings-growth ratio of 1.33 and a beta of 1.30. Bank of Nova Scotia has a fifty-two week low of C$84.88 and a fifty-two week high of C$131.72.

Bank of Nova Scotia (TSE:BNS - Get Free Report) NYSE: BNS last issued its earnings results on Tuesday, August 25th. The bank reported C$2.28 earnings per share (EPS) for the quarter. Bank of Nova Scotia had a return on equity of 11.06% and a net margin of 15.64%.The business had revenue of C$10.54 billion during the quarter. Equities research analysts forecast that Bank of Nova Scotia will post 7.1286267 earnings per share for the current year.

Key Bank of Nova Scotia News

Here are the key news stories impacting Bank of Nova Scotia this week:

• Positive Sentiment: Record quarterly performance: Canadian Banking, Global Wealth Management, and Global Banking and Markets all delivered strong results. Margin expansion, fee growth, and stronger underwriting and advisory activity helped drive the earnings beat. BMO, Scotiabank top estimates as capital-markets units surge
• Positive Sentiment: Analyst upgrades support sentiment: National Bank upgraded Scotiabank to “Outperform,” arguing that the shares offer more than a value opportunity, while TD Securities raised its rating from “Hold” to “Strong Buy.” Scotiabank upgraded to Outperform at National Bank
• Positive Sentiment: Capital returns and balance sheet remain supportive: BNS reported a 13.1% CET1 ratio, repurchased 8.6 million shares during the quarter, and said it had returned C$6.3 billion to shareholders year to date through dividends and buybacks. Why Bank of Nova Scotia Stock Is Up Today
• Neutral Sentiment: Trade uncertainty remains a risk: BNS and BMO cautioned that tariff and trade disruptions could weigh on business activity, although companies appear to be adapting relatively well. BMO, Scotia signal caution, but say businesses adapting well to trade unrest
• Negative Sentiment: One valuation signal is less bullish: National Bank Financial assigned a C$128 price target with a “Sector Perform” rating, slightly below the recent trading level, suggesting limited near-term upside under that view. Bank of Nova Scotia Given a C$128 Price Target

About Bank of Nova Scotia

Scotiabank's vision is to be our clients' most trusted financial partner and deliver sustainable, profitable growth. Guided by our purpose: 'for every future,' we help our clients, their families and their communities achieve success through a broad range of advice, products, and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With assets of approximately $1.5 trillion (as at January 31, 2026), Scotiabank is one of the largest banks in North America by assets, and trades on the Toronto Stock Exchange TSX: BNS and New York Stock Exchange NYSE: BNS.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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