CIBC Lowers Bank of Nova Scotia (TSE:BNS) Price Target to C$75.00

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its target price reduced by stock analysts at CIBC from C$81.00 to C$75.00 in a research note issued on Wednesday,BayStreet.CA reports. CIBC’s price objective indicates a potential upside of 7.33% from the stock’s previous close.

A number of other brokerages have also weighed in on BNS. Barclays raised Bank of Nova Scotia from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 21st. Accountability Research set a C$82.00 target price on shares of Bank of Nova Scotia and gave the stock a “buy” rating in a research report on Thursday, January 9th. BMO Capital Markets boosted their target price on shares of Bank of Nova Scotia from C$72.00 to C$84.00 in a report on Monday, November 18th. National Bankshares lifted their price target on Bank of Nova Scotia from C$66.00 to C$78.00 in a research note on Wednesday, November 20th. Finally, TD Securities set a C$81.00 target price on shares of Bank of Nova Scotia and gave the company a “buy” rating in a research note on Tuesday. Eight investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of C$78.55.

Bank of Nova Scotia Price Performance

BNS traded down C$0.38 during midday trading on Wednesday, reaching C$69.88. 1,518,322 shares of the company’s stock were exchanged, compared to its average volume of 4,460,217. The business’s 50-day moving average price is C$73.90 and its 200 day moving average price is C$73.18. The stock has a market capitalization of C$85.63 billion, a PE ratio of 11.04, a P/E/G ratio of 1.33 and a beta of 0.97. Bank of Nova Scotia has a 1-year low of C$60.68 and a 1-year high of C$80.14.

Bank of Nova Scotia Company Profile

The Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments.