Royal Bank of Canada Increases Bank of Nova Scotia (TSE:BNS) Price Target to C$94.00

Bank of Nova Scotia (TSE:BNSGet Rating) (NYSE:BNS) had its target price hoisted by stock analysts at Royal Bank of Canada from C$93.00 to C$94.00 in a research note issued to investors on Thursday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the bank’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 10.85% from the company’s current price.

Other research analysts have also issued reports about the stock. BMO Capital Markets increased their price target on shares of Bank of Nova Scotia from C$93.00 to C$95.00 in a research note on Wednesday, March 2nd. Canaccord Genuity Group increased their price target on shares of Bank of Nova Scotia from C$98.00 to C$100.00 in a research note on Thursday, February 17th. National Bankshares raised their price objective on shares of Bank of Nova Scotia from C$86.00 to C$90.00 in a research note on Wednesday, February 23rd. CSFB set a C$88.00 price objective on shares of Bank of Nova Scotia and gave the company a “neutral” rating in a research note on Friday, May 20th. Finally, TD Securities lowered shares of Bank of Nova Scotia from a “buy” rating to a “hold” rating and set a C$100.00 price objective for the company. in a research note on Thursday, March 10th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of C$90.96.

BNS traded up C$1.05 during trading on Thursday, hitting C$84.80. 1,337,339 shares of the stock traded hands, compared to its average volume of 4,243,253. Bank of Nova Scotia has a 12-month low of C$75.84 and a 12-month high of C$95.00. The firm has a market capitalization of C$102.14 billion and a P/E ratio of 10.63. The firm has a 50-day moving average of C$85.58 and a 200 day moving average of C$87.84.

Bank of Nova Scotia (TSE:BNSGet Rating) (NYSE:BNS) last issued its quarterly earnings data on Tuesday, March 1st. The bank reported C$2.15 EPS for the quarter, topping the consensus estimate of C$2.07 by C$0.08. The company had revenue of C$8.05 billion during the quarter, compared to the consensus estimate of C$7.79 billion. As a group, equities research analysts expect that Bank of Nova Scotia will post 8.6800006 EPS for the current fiscal year.

Bank of Nova Scotia Company Profile (Get Rating)

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 in four segments: Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets.

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