UBS Group Upgrades Bank of Nova Scotia (TSE:BNS) to Strong-Buy

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) was upgraded by research analysts at UBS Group from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

Other equities analysts also recently issued reports about the stock. Bank of America raised shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating and lifted their price target for the company from C$73.00 to C$90.00 in a report on Tuesday. TD Securities boosted their target price on Bank of Nova Scotia from C$80.00 to C$82.00 in a report on Friday, November 15th. BMO Capital Markets raised their price target on Bank of Nova Scotia from C$72.00 to C$84.00 in a report on Monday. Jefferies Financial Group boosted their price objective on Bank of Nova Scotia from C$65.00 to C$69.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Finally, Cormark cut their price target on Bank of Nova Scotia from C$68.00 to C$65.00 and set a “market perform” rating for the company in a report on Tuesday, August 20th. Seven research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Bank of Nova Scotia has a consensus rating of “Moderate Buy” and an average target price of C$73.75.

Bank of Nova Scotia Price Performance

Shares of Bank of Nova Scotia stock opened at C$78.38 on Monday. Bank of Nova Scotia has a fifty-two week low of C$56.83 and a fifty-two week high of C$78.58. The company has a market cap of C$97.19 billion, a PE ratio of 13.73, a price-to-earnings-growth ratio of 1.33 and a beta of 0.97. The firm has a fifty day moving average price of C$72.91 and a two-hundred day moving average price of C$67.29.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last announced its quarterly earnings data on Tuesday, August 27th. The bank reported C$1.63 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of C$1.63. Bank of Nova Scotia had a net margin of 25.38% and a return on equity of 9.49%. The company had revenue of C$8.36 billion during the quarter, compared to analysts’ expectations of C$8.50 billion. Analysts expect that Bank of Nova Scotia will post 7.1286267 earnings per share for the current fiscal year.

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.