Jefferies Financial Group Forecasts Strong Price Appreciation for Bank of Nova Scotia (TSE:BNS) Stock

Key Points

• Jefferies raised Bank of Nova Scotia’s price target to C$117 from C$112 but maintained a “hold” rating, implying 7.58% downside from the prior close.
• Analyst sentiment remains cautious: one analyst rates the stock a Buy and ten rate it Hold, with a consensus rating of “Hold” and an average target of C$117.
• Shares traded at C$126.60, near their 52-week high of C$126.87. In its latest quarter, Scotiabank reported C$2.02 EPS and C$9.85 billion in revenue.

Bank of Nova Scotia (TSE:BNS - Get Free Report) NYSE: BNS had its target price boosted by analysts at Jefferies Financial Group from C$112.00 to C$117.00 in a research report issued on Thursday,BayStreet.CA reports. The brokerage currently has a "hold" rating on the bank's stock. Jefferies Financial Group's price objective would suggest a potential downside of 7.58% from the stock's previous close.

Several other research analysts also recently weighed in on the stock. Canaccord Genuity Group upped their target price on shares of Bank of Nova Scotia from C$111.00 to C$121.00 and gave the company a "hold" rating in a research note on Tuesday, July 7th. Barclays boosted their price objective on shares of Bank of Nova Scotia from C$108.00 to C$110.00 and gave the stock an "equal weight" rating in a report on Thursday, May 28th. National Bank Financial upped their price objective on shares of Bank of Nova Scotia from C$100.00 to C$106.00 and gave the company a "sector perform" rating in a research report on Friday, May 15th. Desjardins raised their target price on Bank of Nova Scotia from C$115.00 to C$125.00 and gave the company a "hold" rating in a research note on Wednesday, August 5th. Finally, Royal Bank Of Canada lifted their target price on Bank of Nova Scotia from C$98.00 to C$117.00 and gave the stock a "sector perform" rating in a research report on Thursday, May 28th. One analyst has rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of C$117.00.

Bank of Nova Scotia Stock Performance

Shares of TSE:BNS traded up C$0.65 during mid-day trading on Thursday, hitting C$126.60. 680,920 shares of the company traded hands, compared to its average volume of 4,234,299. The firm has a market cap of C$154.34 billion, a P/E ratio of 17.46, a PEG ratio of 1.33 and a beta of 1.30. Bank of Nova Scotia has a 52-week low of C$77.77 and a 52-week high of C$126.87. The firm's 50 day simple moving average is C$121.79 and its 200 day simple moving average is C$109.35.

Bank of Nova Scotia (TSE:BNS - Get Free Report) NYSE: BNS last released its quarterly earnings results on Wednesday, May 27th. The bank reported C$2.02 earnings per share for the quarter. Bank of Nova Scotia had a return on equity of 11.06% and a net margin of 15.64%.The firm had revenue of C$9.85 billion during the quarter. Equities research analysts expect that Bank of Nova Scotia will post 7.1286267 EPS for the current fiscal year.

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.

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