Bank of Nova Scotia (BNS) Upgraded by Scotia Capital to "Outperform"
Wednesday, August 31, 2021 9:35 AM

Equities research analysts at Scotia Capital upgraded shares of Bank of Nova Scotia (NYSE: BNS) from a "sector perform" rating to an "outperform" rating in a research note to investors on Wednesday.

Separately, analysts at Bank of America Merrill Lynch upgraded shares of Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a research note to investors on Friday, June 3rd. They now have a $65.00 price target on the stock, up previously from $62.00. Also, analysts at Canaccord Genuity upgraded shares of Bank of Nova Scotia to a "buy" rating in a research note to investors on Tuesday, May 24th.

Shares of Bank of Nova Scotia opened at 54.65 on Thursday. Bank of Nova Scotia has a 52 week low of $48.64 and a 52 week high of $62.33. The stock's 50-day moving average is $55.59 and its 200-day moving average is $58.86. The company has a market cap of $59.147 billion and a price-to-earnings ratio of 12.06.

Bank of Nova Scotia last announced its quarterly results on Tuesday, August 30th. The company reported $1.11 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $1.10 EPS by $0.01. On average, analysts predict that Bank of Nova Scotia will post $1.18 EPS next quarter.

The Bank of Nova Scotia (the Bank) is a financial institution, active in both Canadian and international markets. The Bank offers a range of products and services, including retail, commercial, corporate and investment banking to almost in some 50 countries worldwide. The Bank has three business lines: Canadian Banking, International Banking and Scotia Capital. Canadian Banking provides a range of banking and investing services to more than 7.4 million customers across Canada, through a network of 1,019 branches and 2,964 automated banking machines (ABMs), and 101 Wealth Management offices, as well as telephone and Internet banking. International Banking encompasses the Bank’s retail and commercial banking operations in more than 40 countries outside Canada. Scotia Capital is the wholesale banking arm of the Scotiabank Group. In March 2010, the Company completed the acquisition of Royal Bank of Scotland Group plc's wholesale banking operations in Colombia (RBSC).

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