Bank of Nova Scotia (The) (BNS) Receives Price Target

Bank of Nova Scotia (The) (BNS) : The highest short term price target forecast on Bank of Nova Scotia (The) (BNS) is $72 and the lowest target price is $47. A total of 6 equity analysts are currently covering the company. The average price of all the analysts is $55.52 with a standard deviation of $9.14.

Bank of Nova Scotia (The) (BNS) : 5 analysts are covering Bank of Nova Scotia (The) (BNS) and their average rating on the stock is 1.8, which is read as a Buy. 2 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. Bank of Nova Scotia (The) (BNS) also receives 2 more Buy recommendations from analysts who believe that the stock will do well going forward. A Zacks Investment Research rank of 1, which recommends a Strong Buy affirms that they expect a large upside in the stock from the current levels. A total of 1 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.


Also, Macquarie downgrades its rating on Bank of Nova Scotia (The) (NYSE:BNS). Analysts at the Macquarie have a current rating of Neutral on the shares. The shares were previously rated Outperform. The rating by the firm was issued on June 9, 2016.

Bank of Nova Scotia (The) (NYSE:BNS): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $53.14 and $53.00 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $53.66. The buying momentum continued till the end and the stock did not give up its gains. It closed at $53.62, notching a gain of 0.75% for the day. The total traded volume was 803,844 . The stock had closed at $53.22 on the previous day.

The Bank of Nova Scotia (the Bank) is a Canada-based diversified financial institution. The Bank offered a range of products and services, including retail, commercial, corporate and investment banking to more than 21 million customers in more than 55 countries around the world. The Bank has four business lines: Canadian Banking, International Banking, Scotia Capital and Global Wealth Management. The Canadian Banking segment provided a range of banking and investing services to more than 7.7 million customers across Canada, through a network of 1,190 branches, 3,869 automated banking machine (ABMs), as well as telephone, Internet banking and third-party channels. International Banking includes Scotiabanks retail and commercial banking operations in more than 55 countries outside Canada. Global Wealth Management (GWM) consists of wealth management insurance and Global Transaction Banking businesses.

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