Barclays Has Lowered Expectations for Bank of Nova Scotia (TSE:BNS) Stock Price

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its price target reduced by equities researchers at Barclays from C$81.00 to C$78.00 in a research note issued on Monday,BayStreet.CA reports. The brokerage currently has an “equal weight” rating on the bank’s stock. Barclays‘s price target suggests a potential upside of 5.43% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. Royal Bank of Canada cut their price target on Bank of Nova Scotia from C$81.00 to C$80.00 and set a “sector perform” rating for the company in a report on Monday. CIBC raised their price target on Bank of Nova Scotia from C$75.00 to C$77.00 in a research report on Thursday, May 22nd. Bank of America cut Bank of Nova Scotia from a “buy” rating to a “neutral” rating and lowered their target price for the company from C$82.00 to C$70.00 in a report on Monday, March 31st. Jefferies Financial Group lifted their price objective on Bank of Nova Scotia from C$70.00 to C$75.00 and gave the company a “hold” rating in a research note on Wednesday, May 28th. Finally, Cibc World Mkts downgraded Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Nine research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Bank of Nova Scotia currently has an average rating of “Hold” and a consensus price target of C$77.00.

Bank of Nova Scotia Price Performance

Shares of BNS stock opened at C$73.98 on Monday. The stock has a 50 day simple moving average of C$69.26 and a 200-day simple moving average of C$72.18. Bank of Nova Scotia has a 1-year low of C$60.68 and a 1-year high of C$80.14. The company has a market cap of C$90.66 billion, a price-to-earnings ratio of 11.69, a PEG ratio of 1.33 and a beta of 0.97.

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.