Bank of Nova Scotia (TSE:BNS) Given New C$73.00 Price Target at National Bankshares

Key Points

• National Bankshares has raised the price target for Bank of Nova Scotia from C$72.00 to C$73.00, while maintaining a "sector perform" rating.
• Other analysts have also adjusted their targets, with TD Securities increasing theirs to C$79.00 and Canaccord Genuity raising it to C$85.00.
• The current consensus rating for Bank of Nova Scotia's stock is "Hold," with a price target average of C$78.57.

Bank of Nova Scotia (TSE:BNS - Get Free Report) NYSE: BNS had its price target raised by investment analysts at National Bankshares from C$72.00 to C$73.00 in a report released on Friday,BayStreet.CA reports. The brokerage presently has a "sector perform" rating on the bank's stock. National Bankshares' target price points to a potential downside of 7.25% from the company's current price.

BNS has been the topic of a number of other research reports. Barclays increased their target price on Bank of Nova Scotia from C$78.00 to C$81.00 and gave the company an "equal weight" rating in a research report on Thursday, August 14th. TD Securities increased their target price on Bank of Nova Scotia from C$77.00 to C$79.00 and gave the company a "buy" rating in a research report on Wednesday, May 28th. Desjardins increased their target price 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, August 13th. Canaccord Genuity Group increased their target price on Bank of Nova Scotia from C$81.00 to C$85.00 in a research report on Tuesday, July 22nd. Finally, Jefferies Financial Group increased their target price on Bank of Nova Scotia from C$75.00 to C$83.00 in a research report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of C$80.62.

Bank of Nova Scotia Stock Performance

Shares of TSE:BNS traded up C$0.14 during midday trading on Friday, reaching C$78.71. 3,969,131 shares of the company's stock traded hands, compared to its average volume of 4,733,438. Bank of Nova Scotia has a 1 year low of C$62.57 and a 1 year high of C$80.14. The company has a market cap of C$96.45 billion, a P/E ratio of 12.44, a PEG ratio of 1.33 and a beta of 0.97. The company has a fifty day simple moving average of C$75.99 and a two-hundred day simple moving average of C$72.00.

Bank of Nova Scotia Company Profile

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.