CSFB Trims Bank of Nova Scotia (TSE:BNS) Target Price CA$73.00


Bank of Nova Scotia (TSE:BNS – Get Rating) (NYSE:BNS) had its target price lowered by CSFB investment analysts from CA$84.00 to CA$73.00 in a report released Tuesday, BayStreet.CA reports. CSFB’s price target would suggest a potential upside of 3.36% from the stock’s previous close.

BNS has been the subject of several other reports. Cormark reiterated a “market performance” rating on Bank of Nova Scotia shares in a Monday, September 12 report. CIBC cut its price target on Bank of Nova Scotia from C$84.00 to C$77.00 in a Wednesday, September 7 report. National Bankshares cut its price target on Bank of Nova Scotia from C$90.00 to C$85.00 in a report on Friday. Credit Suisse Group cut its price target on Bank of Nova Scotia to C$73.00 in a report released Tuesday. Finally, Royal Bank of Canada downgraded Bank of Nova Scotia from an “outperforming” rating to an “sector outperforming” rating and lowered its price target for the company from 94.00. CA$ to CA$83.00 in a Wednesday, August 24 report. Eleven research analysts gave the stock a hold rating and two gave the stock a buy rating. Based on data from MarketBeat.com, the stock has a consensus quote of “Hold” and a consensus price target of C$84.40.

Bank of Nova Scotia trades up 0.6%

Bank of Nova Scotia stock traded C$0.44 on Tuesday, hitting C$70.63. 1,248,446 shares of shares traded in hands, compared to its average volume of 4,432,491. The company has a market capitalization of C$84.14 billion and a P/E ratio of 8.47. The company’s 50-day simple moving average is C$67.16 and its 200-day simple moving average is C$74.37. The Bank of Nova Scotia has a 1-year low of C$63.19 and a 1-year high of C$95.00.

The Bank of Nova Scotia (TSE:BNS – Get Rating) (NYSE:BNS) last reported quarterly earnings data on Tuesday, August 23. The bank reported EPS of C$2.10 for the quarter, missing the consensus estimate of C$2.12 by C$0.02. The company posted revenue of C$7.80 billion in the quarter, compared to analyst estimates of C$8.01 billion. As a group, analysts expect Bank of Nova Scotia to post earnings per share of 8.3800002 for the current year.

About The Bank of Nova Scotia

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The Bank of Nova Scotia offers a variety of banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, as well as internationally. It operates through four segments: Canadian Banking, International Banking, Global Wealth Management and Global Banking and Markets.

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