CIBC Raises Bank of Nova Scotia (TSE:BNS) Price Target to C$77.00

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its target price lifted by investment analysts at CIBC from C$75.00 to C$77.00 in a research report issued on Thursday,BayStreet.CA reports. CIBC’s target price would suggest a potential upside of 7.41% from the stock’s previous close.

Several other research firms have also recently weighed in on BNS. UBS Group lowered their price objective on Bank of Nova Scotia from C$85.00 to C$78.00 in a research report on Thursday. Jefferies Financial Group reduced their target price on Bank of Nova Scotia from C$76.00 to C$70.00 in a report on Monday, April 21st. Cibc World Mkts lowered Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. TD Securities set a C$81.00 target price on Bank of Nova Scotia and gave the stock a “buy” rating in a report on Tuesday, March 4th. Finally, Royal Bank of Canada reduced their target price on Bank of Nova Scotia from C$83.00 to C$81.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Bank of Nova Scotia presently has an average rating of “Hold” and an average price target of C$76.64.

Bank of Nova Scotia Price Performance

BNS stock opened at C$71.69 on Thursday. The stock has a market capitalization of C$87.85 billion, a price-to-earnings ratio of 11.33, a PEG ratio of 1.33 and a beta of 0.97. The business’s fifty day moving average price is C$68.18 and its two-hundred day moving average price is C$72.44. 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.