RBC Capital Markets Reiterated Bank of Nova Scotia (NYSE:BNS) As a “Outperform”; They Now Have a Target Of $72.00

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Bank of Nova Scotia (NYSE:BNS) Rating Reaffirmed

New York: In analysts note sent to investors on 2 December, RBC Capital Markets reaffirmed their “Outperform” rating on Bank of Nova Scotia (NYSE:BNS) shares. They now have a $72.00 target price on the firm. RBC Capital Markets’s target may suggest a potential upside of 58.21% from the company’s last stock close.

From a total of 4 analysts covering The Bank Of Nova Scotia (NYSE:BNS) stock, 4 rate it a ”Buy”, 1 a “Sell”, and 1 a ”Hold”. This means that 67% of the ratings are positive. The highest target price is $54.63 while the lowest target price is $50.89. The mean of all analyst targets is $52.97 with a 46.28% above today’s ($45.51) stock price. The Bank Of Nova Scotia was the topic of 9 analyst reports since August 4, 2015 according to the firm StockzIntelligence Inc. RBC Capital Markets maintained shares on August 31 with “Outperform” rating.

The stock closed the day at $45.51 during the previous session. It is down 18.78% since April 29, 2015 and is downtrending. It has underperformed by 18.58% the S&P500.

Analysts await Bank of Nova Scotia (NYSE:BNS) to reports earnings on December, 4. They expect $1.10 EPS, down 5.17% or $0.06 from last year’s $1.16 per share. BNS’s profit will be $1.32B for 10.34 P/E if the $1.10 EPS becomes reality. After $1.18 actual EPS reported by Bank of Nova Scotia for the previous quarter, Wall Street now forecasts -6.78% negative EPS growth.

The Bank of Nova Scotia is a Canada diversified financial institution. The company has a market cap of $54.80 billion. The Bank offered a range of services and products, including retail, commercial, corporate and investment banking to more than 21 million clients in more than 55 countries around the world. It has 11.42 P/E ratio. The Bank has four business lines: Canadian Banking, International Banking, Scotia Capital and Global Wealth Management.

According to Zacks Investment Research, “Bank of Nova Scotia is one of North America’s premier financial institutions and Canada’s most international bank. They offer a diverse range of products and services including personal, commercial, corporate and investment banking. Scotiabank has built long-term value and recorded consistent earnings growth by building on its core strengths and by executing exceptionally well in its core businesses. These include Domestic Banking, Wealth Management, International Banking and Scotia Capital.” Get a free copy of the Zacks research report on Bank of Nova Scotia (BNS).

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