Bank of Nova Scotia (TSE:BNS) Given New C$83.00 Price Target at Jefferies Financial Group

Key Points

• Jefferies Financial Group has raised the price target for Bank of Nova Scotia from C$75.00 to C$83.00, indicating a potential upside of 6.48% from the current stock price.
• Other analysts also revised their price targets, with Desjardins setting it at C$79.00 and CIBC at C$77.00, while UBS lowered it to C$78.00.
• The company's stock is currently rated as a "Hold" by the consensus of analysts, with an average target price of C$78.29.

Bank of Nova Scotia (TSE:BNS - Get Free Report) NYSE: BNS had its target price lifted by equities researchers at Jefferies Financial Group from C$75.00 to C$83.00 in a research note issued on Wednesday,BayStreet.CA reports. Jefferies Financial Group's price objective would indicate a potential upside of 6.48% from the company's current price.

Other equities research analysts have also issued reports about the company. Desjardins upped their price target on Bank of Nova Scotia from C$77.00 to C$79.00 and gave the company a "hold" rating in a research report on Wednesday. CIBC upped their price target on Bank of Nova Scotia from C$75.00 to C$77.00 in a research report on Thursday, May 22nd. National Bankshares upped their price target on Bank of Nova Scotia from C$71.00 to C$72.00 and gave the company a "sector perform" rating in a research report on Wednesday, May 28th. UBS Group dropped their price target on Bank of Nova Scotia from C$85.00 to C$78.00 in a research report on Thursday, May 22nd. Finally, Canaccord Genuity Group upped their price target on Bank of Nova Scotia from C$81.00 to C$85.00 in a research report on Tuesday, July 22nd. Ten analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of C$78.29.

Bank of Nova Scotia Stock Up 0.3%

Shares of BNS traded up C$0.24 during trading on Wednesday, reaching C$77.95. The company's stock had a trading volume of 1,334,414 shares, compared to its average volume of 4,793,913. The company has a fifty day moving average of C$75.42 and a two-hundred day moving average of C$71.83. Bank of Nova Scotia has a twelve month low of C$62.47 and a twelve month high of C$80.14. The company has a market cap of C$95.52 billion, a price-to-earnings ratio of 12.32, a P/E/G ratio of 1.33 and a beta of 0.97.

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.

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