Brokerage Firm Rating Update on Bank of Nova Scotia (The) (BNS)

Bank of Nova Scotia (The) (BNS) : 2 brokerage houses believe that Bank of Nova Scotia (The) (BNS) is a Strong Buy at current levels. 2 Analyst considers the fundamentals to be worthy of a Buy recommendation. 1 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Bank of Nova Scotia (The) (BNS). Zacks Investment Research suggests a Buy with a rank of 2.The median of all the 5 Wall Street Analysts endorse the stock as a Buy with a rating of 1.8.

Bank of Nova Scotia (The) (BNS) : 6 Wall Street analysts covering Bank of Nova Scotia (The) (BNS) believe that the average level the stock could reach for the short term is $56.72. The maximum price target given is $77 and the minimum target for short term is around $47, hence the standard deviation is calculated at $10.93.


For the current week, the company shares have a recommendation consensus of Buy. Also, Macquarie downgrades its view on Bank of Nova Scotia (The) (NYSE:BNS) according to the research report released by the firm to its investors. The shares have now been rated Neutral by the stock experts at the ratings house. Earlier, the shares had a rating of Outperform. The rating by the firm was issued on June 9, 2016.

Bank of Nova Scotia (The) (NYSE:BNS): stock was range-bound between the intraday low of $54.5 and the intraday high of $55.14 after having opened at $55.07 on Wednesdays session. The stock finally closed in the red at $55.07, a loss of -0.29%. The stock remained in the red for the whole trading day. The total traded volume was 636,639 shares. The stock failed to cross $55.14 in Wednesdays trading. The stocks closing price on Thursday was $54.95.

The Bank of Nova Scotia (the Bank) is a Canada-based diversified financial institution. The Bank offered a range of products and services, including retail, commercial, corporate and investment banking to more than 21 million customers in more than 55 countries around the world. The Bank has four business lines: Canadian Banking, International Banking, Scotia Capital and Global Wealth Management. The Canadian Banking segment provided a range of banking and investing services to more than 7.7 million customers across Canada, through a network of 1,190 branches, 3,869 automated banking machine (ABMs), as well as telephone, Internet banking and third-party channels. International Banking includes Scotiabanks retail and commercial banking operations in more than 55 countries outside Canada. Global Wealth Management (GWM) consists of wealth management insurance and Global Transaction Banking businesses.

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