Bank of Nova Scotia (TSE:BNS) Given New C$74.00 Price Target at Royal Bank of Canada

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its price objective upped by research analysts at Royal Bank of Canada from C$65.00 to C$74.00 in a report issued on Wednesday,BayStreet.CA reports. Royal Bank of Canada’s price target would indicate a potential downside of 4.86% from the stock’s current price.

Several other research analysts have also issued reports on the company. Cibc World Mkts raised Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 20th. Cormark decreased their target price on Bank of Nova Scotia from C$68.00 to C$65.00 and set a “market perform” rating for the company in a research report on Tuesday, August 20th. Jefferies Financial Group raised their price objective on Bank of Nova Scotia from C$65.00 to C$69.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. National Bankshares raised their price objective on Bank of Nova Scotia from C$66.00 to C$78.00 in a research report on Wednesday, November 20th. Finally, Barclays raised Bank of Nova Scotia from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 21st. Seven research analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$76.73.

Bank of Nova Scotia Stock Performance

BNS stock traded up C$0.68 during trading on Wednesday, hitting C$77.78. 1,614,811 shares of the company traded hands, compared to its average volume of 4,262,035. Bank of Nova Scotia has a 1 year low of C$59.62 and a 1 year high of C$80.14. The company has a 50-day moving average of C$74.45 and a 200-day moving average of C$68.22. The firm has a market capitalization of C$96.45 billion, a PE ratio of 13.62, a P/E/G ratio of 1.33 and a beta of 0.97.

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.