TD Securities Forecasts Strong Price Appreciation for Bank of Nova Scotia (TSE:BNS) Stock

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its target price boosted by equities research analysts at TD Securities from C$93.00 to C$99.00 in a research report issued on Monday,BayStreet.CA reports. TD Securities’ price target would suggest a potential upside of 5.84% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. Canaccord Genuity Group boosted their price target on shares of Bank of Nova Scotia from C$87.00 to C$90.00 and gave the stock a “buy” rating in a research note on Wednesday, August 27th. Royal Bank Of Canada lifted their target price on Bank of Nova Scotia from C$80.00 to C$86.00 and gave the company a “sector perform” rating in a report on Wednesday, August 27th. CIBC upped their price target on Bank of Nova Scotia from C$90.00 to C$93.00 and gave the stock a “neutral” rating in a report on Friday, September 5th. Jefferies Financial Group increased their price target on Bank of Nova Scotia from C$83.00 to C$86.00 in a research report on Wednesday, August 27th. Finally, Desjardins boosted their price objective on Bank of Nova Scotia from C$79.00 to C$85.00 and gave the stock a “hold” rating in a research report on Wednesday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of C$86.31.

Bank of Nova Scotia Price Performance

Shares of BNS opened at C$93.54 on Monday. Bank of Nova Scotia has a 1-year low of C$62.57 and a 1-year high of C$94.29. The firm has a 50-day simple moving average of C$90.10 and a two-hundred day simple moving average of C$80.39. The stock has a market cap of C$116.22 billion, a PE ratio of 17.89, a P/E/G ratio of 1.33 and a beta of 1.33.

About Bank of Nova Scotia

Bank of Nova Scotia is a global financial services provider. The bank has five business segments: Canadian banking, international banking, global wealth management, global banking and markets, and other. It offers a range of advice, products, and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.