CIBC Cuts Bank of Nova Scotia (TSE:BNS) Price Target to C$86.00

Bank of Nova Scotia (TSE:BNSGet Rating) (NYSE:BNS) had its target price decreased by investment analysts at CIBC from C$94.00 to C$86.00 in a research report issued on Tuesday, BayStreet.CA reports. CIBC’s price objective points to a potential upside of 4.38% from the stock’s current price.

BNS has been the topic of several other reports. Barclays cut their target price on Bank of Nova Scotia from C$96.00 to C$84.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 11th. National Bankshares increased their target price on Bank of Nova Scotia from C$86.00 to C$90.00 in a research report on Wednesday, February 23rd. BMO Capital Markets increased their target price on Bank of Nova Scotia from C$93.00 to C$95.00 in a research report on Wednesday, March 2nd. Canaccord Genuity Group increased their target price on Bank of Nova Scotia from C$98.00 to C$100.00 in a research report on Thursday, February 17th. Finally, Fundamental Research lowered their price target on Bank of Nova Scotia from C$100.91 to C$97.39 and set a “buy” rating for the company in a report on Monday, March 7th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of C$91.18.

Shares of Bank of Nova Scotia stock traded up C$0.94 during trading hours on Tuesday, reaching C$82.39. 771,150 shares of the company’s stock were exchanged, compared to its average volume of 4,356,447. Bank of Nova Scotia has a 52-week low of C$75.84 and a 52-week high of C$95.00. The firm has a market capitalization of C$99.24 billion and a price-to-earnings ratio of 10.33. The company has a fifty day moving average of C$87.12 and a 200-day moving average of C$87.97.

Bank of Nova Scotia (TSE:BNSGet Rating) (NYSE:BNS) last issued its earnings results on Tuesday, March 1st. The bank reported C$2.15 earnings per share for the quarter, topping the consensus estimate of C$2.07 by C$0.08. The firm had revenue of C$8.05 billion during the quarter, compared to analysts’ expectations of C$7.79 billion. As a group, equities analysts forecast that Bank of Nova Scotia will post 8.7700006 EPS for the current year.

About Bank of Nova Scotia (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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