Analyst Ratings Coverage:
Following Bank of Nova Scotia’s earnings miss, several analysts have made ratings changes and adjusted their price targets for the stock.
- RBC: Maintained with a “Sector Perform” rating and they downgraded their target for Bank of Nova Scotia’s stock to CAD 73. This downward revision suggests that RBC has revised its expectations for the stock’s performance and believes it may underperform compared to its previous outlook.
- National Bank Financial: National Bank Financial also downgraded their target for Bank of Nova Scotia’s stock to CAD 66. Along with the target downgrade, they assigned a “Sector Perform” rating. This rating implies that National Bank Financial expects the stock to perform in line with the average performance of other stocks in the same sector.
- TD Securities: TD Securities maintained its rating for Bank of Nova Scotia’s at a “Hold” ratings and kept its target price at CAD 69. The Hold rating indicates that TD Securities believes the stock’s performance will be in line with the market average. With the target price remaining unchanged, TD Securities’ outlook for the stock appears relatively steady, with limited changes in their expectations.
- Morningstar: Morningstar maintained its rating for Bank of Nova Scotia’s with a “Buy” recommendation. This rating implies that Morningstar believes the stock is undervalued and presents a favorable investment opportunity. Morningstar’s target price of CAD 75 indicates a more positive outlook for the stock compared to some other analysts, as it suggests a potentially higher increase from the current price.
- CIBC World Markets: CIBC World Markets downgraded their target for Bank of Nova Scotia’s stock to CAD 71. They assigned a “Neutral” rating to the stock. The “Neutral” rating suggests that CIBC World Markets expects the stock to perform in line with the overall market, without any significant outperformance or underperformance.
- Barclays: Barclays lowered its target for Bank of Nova Scotia’s stock to CAD 63. No specific rating is provided, but the target downgrade indicates that Barclays has revised its expectations for the stock’s future performance. The new target suggests a more cautious stance on the stock.
- BMO Capital Markets: BMO Capital Markets decreased its target for Bank of Nova Scotia’s stock CAD 73. However, no specific rating is mentioned.
- Cormark Securities: Cormark Securities revised its target for Bank of Nova Scotia’s stock to CAD 69.
BNS Stock Forecast & Analysis
Based on the forecasts of 18 analysts, the average target price for Bank of Nova Scotia’s stock over the next 12 months is CAD 73.67. This target price represents the average price at which these analysts expect the stock to trade in the future. However, it’s important to note that individual analysts may have different target prices, and these forecasts can vary based on their own methodologies and assessments.
The average analyst rating for Bank of Nova Scotia is “Hold.” This indicates a neutral stance on the stock, suggesting that analysts believe it is currently fairly valued and expect it to perform in line with the overall market.
According to Stock Target Advisor’s own analysis of Bank of Nova Scotia’s stock, they have a slightly bullish outlook. This analysis is based on evaluating 2 positive signals and 1 negative signal related to the stock. While the specific signals and their details are not provided, it suggests that Stock Target Advisor sees some positive factors that could potentially drive the stock’s performance.
As of the last closing, Bank of Nova Scotia’s stock price was CAD 65.66. This closing price reflects the most recent value at which the stock was traded on the market.
Bank of Nova Scotia’s stock has experienced a -1.91% change over the past week, indicating a slight decrease in value during that period. Over the past month, the stock price has decreased by -2.94%. Looking back over the past year, the stock has shown a significant decline of -19.31%. These figures highlight the stock’s price volatility and the challenges it has faced in the past year.