Barclays Cuts Bank of Nova Scotia (TSE:BNS) Price Target to C$78.00

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its target price cut by stock analysts at Barclays from C$81.00 to C$78.00 in a research note issued on Monday,BayStreet.CA reports. The brokerage presently has an “equal weight” rating on the bank’s stock. Barclays‘s target price points to a potential upside of 5.35% from the stock’s previous close.

Several other research firms have also recently weighed in on BNS. Royal Bank of Canada dropped their price objective on shares of Bank of Nova Scotia from C$81.00 to C$80.00 and set a “sector perform” rating for the company in a research report on Monday. TD Securities raised their price target on Bank of Nova Scotia from C$77.00 to C$79.00 and gave the stock a “buy” rating in a research report on Wednesday, May 28th. Jefferies Financial Group increased their target price on Bank of Nova Scotia from C$70.00 to C$75.00 and gave the stock a “hold” rating in a research note on Wednesday, May 28th. Cibc World Mkts cut shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Finally, National Bankshares raised their price objective on shares of Bank of Nova Scotia from C$71.00 to C$72.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 28th. Nine analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Bank of Nova Scotia has a consensus rating of “Hold” and an average price target of C$77.00.

Bank of Nova Scotia Price Performance

Shares of TSE:BNS traded up C$0.21 during midday trading on Monday, reaching C$74.04. The company’s stock had a trading volume of 2,085,960 shares, compared to its average volume of 4,771,782. The business’s fifty day simple moving average is C$69.03 and its 200-day simple moving average is C$72.24. The company has a market capitalization of C$90.73 billion, a P/E ratio of 11.70, a P/E/G ratio of 1.33 and a beta of 0.97. Bank of Nova Scotia has a fifty-two week low of C$60.68 and a fifty-two week high of C$80.14.

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.