Bank Of Nova Scotia (BNS) Receives a Hold from Canaccord Genuity

In a report issued on February 18, Scott Chan CFA from Canaccord Genuity maintained a Hold rating on Bank Of Nova Scotia (BNSResearch Report), with a price target of C$70.50. The company’s shares closed last Wednesday at $61.20, close to its 52-week high of $61.35.

According to TipRanks.com, CFA is a 4-star analyst with an average return of 6.8% and a 56.3% success rate. CFA covers the Financial sector, focusing on stocks such as Canadian Bank of Commerce, National Bank of Canada, and Toronto Dominion Bank.

Bank Of Nova Scotia has an analyst consensus of Moderate Buy, with a price target consensus of $60.30, a 1.8% upside from current levels. In a report released yesterday, National Bank also maintained a Hold rating on the stock with a C$77.00 price target.

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Based on Bank Of Nova Scotia’s latest earnings release for the quarter ending October 31, the company reported a quarterly revenue of $7.46 billion and net profit of $1.83 billion. In comparison, last year the company earned revenue of $7.81 billion and had a net profit of $2.2 billion.

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Bank of Nova Scotia engages in the provision of financial products and services, including personal, commercial, corporate, and investment banking. It operates through the following segments: Canadian Banking, International Banking, Global Banking and Markets, and Other. The Other segment includes group treasury, smaller operating segments and business line elimination items. The company was founded on March 30, 1832 and is headquartered in Toronto, Canada.