Bank of Nova Scotia (BNS) Price Target Cut to C$74.00

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Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its target price lowered by research analysts at Canaccord Genuity from C$76.00 to C$74.00 in a report issued on Wednesday, BayStreet.CA reports. Canaccord Genuity’s target price suggests a potential upside of 3.87% from the company’s current price.

A number of other equities analysts have also commented on BNS. BMO Capital Markets reaffirmed an “outperform” rating and set a C$85.00 price target on shares of Bank of Nova Scotia in a research report on Tuesday, January 15th. TD Securities lowered shares of Bank of Nova Scotia from a “buy” rating to a “hold” rating and lowered their price target for the stock from C$84.00 to C$80.00 in a research report on Wednesday, February 27th. National Bank Financial lowered their price target on shares of Bank of Nova Scotia from C$80.00 to C$78.00 in a research report on Wednesday, February 27th. Desjardins lowered their price target on shares of Bank of Nova Scotia from C$83.00 to C$81.00 in a research report on Wednesday, February 27th. Finally, CIBC lowered shares of Bank of Nova Scotia from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from C$86.00 to C$81.00 in a research report on Wednesday, February 27th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of C$83.55.

Shares of BNS traded down C$0.13 during trading hours on Wednesday, hitting C$71.24. The company had a trading volume of 888,915 shares, compared to its average volume of 2,720,933. The firm has a market capitalization of $87.49 billion and a PE ratio of 10.69. Bank of Nova Scotia has a 12 month low of C$66.36 and a 12 month high of C$80.79.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last issued its quarterly earnings data on Tuesday, February 26th. The bank reported C$1.75 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of C$1.87 by C($0.12). The firm had revenue of C$7.60 billion for the quarter, compared to the consensus estimate of C$8.21 billion. As a group, sell-side analysts expect that Bank of Nova Scotia will post 7.78653710240805 EPS for the current year.

Bank of Nova Scotia Company Profile

The Bank of Nova Scotia provides various banking products and services in North America, Latin America, the Caribbean and Central America, and the Asia-Pacific. The company offers financial advice and solutions, and day-to-day banking products, including debit and credit cards, chequing and saving accounts, investments, mortgages, loans, and related creditor insurance to individuals and small businesses; and commercial banking solutions comprising lending, deposit, cash management, and trade finance solutions to medium and large businesses, including automotive dealers and their customers.

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Analyst Recommendations for Bank of Nova Scotia (TSE:BNS)

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