CIBC Has Lowered Expectations for Bank of Nova Scotia (TSE:BNS) Stock Price

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

A number of other brokerages have also recently commented on BNS. Canaccord Genuity Group upgraded shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating and increased their price target for the company from C$71.00 to C$84.00 in a research note on Tuesday, November 19th. Barclays raised Bank of Nova Scotia from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 21st. TD Securities set a C$81.00 price objective on shares of Bank of Nova Scotia and gave the stock a “buy” rating in a research report on Tuesday. Royal Bank of Canada cut their price target on Bank of Nova Scotia from C$83.00 to C$81.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 26th. Finally, Jefferies Financial Group lowered their target price on shares of Bank of Nova Scotia from C$81.00 to C$77.00 in a report on Tuesday, February 18th. Eight analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Bank of Nova Scotia currently has a consensus rating of “Hold” and a consensus target price of C$78.55.

Bank of Nova Scotia Trading Down 0.5 %

Shares of Bank of Nova Scotia stock traded down C$0.38 during trading on Wednesday, reaching C$69.88. The stock had a trading volume of 1,518,322 shares, compared to its average volume of 4,460,217. The company has a market capitalization of C$85.63 billion, a price-to-earnings ratio of 11.04, a P/E/G ratio of 1.33 and a beta of 0.97. Bank of Nova Scotia has a 52 week low of C$60.68 and a 52 week high of C$80.14. The stock has a fifty day moving average price of C$73.90 and a two-hundred day moving average price of C$73.18.

About Bank of Nova Scotia

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.