Desjardins Issues Positive Forecast for Bank of Nova Scotia (TSE:BNS) Stock Price

Key Points

• Desjardins raised its price target for Bank of Nova Scotia from C$77.00 to C$79.00, maintaining a "hold" rating and indicating a potential upside of 1.35% from the previous close.
• Other analysts, including Jefferies and TD Securities, also adjusted their price targets, reflecting a range of ratings from "hold" to "buy."
• The current average price target for the stock is C$78.29, with most analysts rating it as "hold," while one analyst has given it a "strong buy" rating.

Bank of Nova Scotia (TSE:BNS - Get Free Report) NYSE: BNS had its price target raised by investment analysts at Desjardins from C$77.00 to C$79.00 in a research note issued on Wednesday,BayStreet.CA reports. The firm presently has a "hold" rating on the bank's stock. Desjardins' price target suggests a potential upside of 1.35% from the stock's previous close.

Other equities analysts have also recently issued reports about the stock. Jefferies Financial Group raised their target price on shares of Bank of Nova Scotia from C$70.00 to C$75.00 and gave the company a "hold" rating in a research note on Wednesday, May 28th. Barclays cut their target price on shares of Bank of Nova Scotia from C$81.00 to C$78.00 and set an "equal weight" rating for the company in a research note on Monday, June 9th. UBS Group cut their target price on shares of Bank of Nova Scotia from C$85.00 to C$78.00 in a research note on Thursday, May 22nd. CIBC increased their price objective on shares of Bank of Nova Scotia from C$75.00 to C$77.00 in a research report on Thursday, May 22nd. Finally, TD Securities increased their price objective on shares of 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. Ten investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of C$78.29.

Bank of Nova Scotia Stock Performance

Shares of TSE BNS traded up C$0.24 during midday trading on Wednesday, reaching C$77.95. The stock had a trading volume of 1,334,414 shares, compared to its average volume of 4,793,913. The stock has a 50-day moving average of C$75.42 and a 200-day moving average of C$71.83. The company has a market capitalization of C$95.52 billion, a price-to-earnings ratio of 12.32, a price-to-earnings-growth ratio of 1.33 and a beta of 0.97. Bank of Nova Scotia has a 12-month low of C$62.47 and a 12-month high of C$80.14.

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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