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

Key Points

• Barclays raised its price target on Bank of Nova Scotia from C$86.00 to C$95.00 while keeping an "equal weight" rating, implying roughly a 0.8% upside from the prior close.
• Several other brokers also boosted targets (e.g., CIBC C$100, TD C$99), but the consensus remains a Hold with an average price target of C$88.18; BNS shares traded near C$94.25, close to their 52‑week high of C$95.35.

Bank of Nova Scotia (TSE:BNS - Get Free Report) NYSE: BNS had its price objective increased by analysts at Barclays from C$86.00 to C$95.00 in a report released on Monday,BayStreet.CA reports. The firm presently has an "equal weight" rating on the bank's stock. Barclays's price target would suggest a potential upside of 0.80% from the stock's previous close.

Several other equities research analysts have also recently commented on BNS. CIBC raised their target price on Bank of Nova Scotia from C$93.00 to C$100.00 in a research note on Wednesday, November 19th. TD Securities raised their price objective on shares of Bank of Nova Scotia from C$93.00 to C$99.00 in a research report on Monday, November 10th. Desjardins lifted their price objective on shares of Bank of Nova Scotia from C$79.00 to C$85.00 and gave the company a "hold" rating in a research note on Wednesday, August 27th. Canaccord Genuity Group increased their target price on shares of Bank of Nova Scotia from C$87.00 to C$90.00 and gave the stock a "buy" rating in a research note on Wednesday, August 27th. Finally, Jefferies Financial Group raised their price target on shares of Bank of Nova Scotia from C$83.00 to C$86.00 in a report on Wednesday, August 27th. Three research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of C$88.18.

Bank of Nova Scotia Stock Performance

Shares of TSE:BNS traded up C$0.25 during trading on Monday, reaching C$94.25. The stock had a trading volume of 927,022 shares, compared to its average volume of 4,734,986. Bank of Nova Scotia has a 52 week low of C$62.57 and a 52 week high of C$95.35. The firm's fifty day moving average is C$91.11 and its 200 day moving average is C$81.82. The stock has a market cap of C$117.10 billion, a price-to-earnings ratio of 18.02, a P/E/G ratio of 1.33 and a beta of 1.33.

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.

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