Analyst Ratings Coverage
National Bank Financial (Rank#18) has just released a research report on May 18th, and has lowered its target price for Bank of Nova Scotia from $72 to $69, indicating a revised valuation for the stock. Concurrently, National Bank has maintained its Sector Perform rating on the company.
National Bank’s decision to reduce Bank of Nova Scotia’s target price reflects a revised valuation based on their updated analysis. The reduction in the 12 month forecast for the stock’s target indicates a slightly more conservative outlook for the stock’s potential price appreciation in the near term.
National Bank Financial has also reiterated its “Sector Perform” rating for Bank of Nova Scotia. This rating suggests that National Bank expects Bank of Nova Scotia’s stock performance to be in line with the overall banking sector. It indicates a neutral stance, meaning the stock is projected to perform in line with its industry peers. National Bank’s Sector Perform rating takes into account various factors, including the bank’s financial performance, competitive positioning, and market conditions.
BNS Stock Forecast & Analysis
Based on the analysis of 18 analysts, the average analyst target price for Bank of Nova Scotia over the next 12 months is estimated to be CAD 74.36. This suggests a potential upside for the stock in the coming year. However, it is important to consider other perspectives on Bank of Nova Scotia’s stock forecast.
Stock Target Advisor’s analysis is based on a combination of positive and negative signals. Stock Target Advisor has identified 4 positive signals and 8 negative signals related to Bank of Nova Scotia. These signals are used to assess the overall sentiment towards the stock.
At the last closing, Bank of Nova Scotia’s stock price was CAD 66.94. Over the past week, the stock price has experienced a modest increase of +1.29%, indicating some short-term positive momentum. However, over the past month, the stock price has declined by -2.59%, and over the last year, it has decreased by -19.02%. These figures suggest a mixed performance for Bank of Nova Scotia, with negative trends observed over longer timeframes.
STA Research (StockTargetAdvisor.com) is a independent Investment Research company that specializes in stock forecasting and analysis with integrated AI, based on our platform stocktargetadvisor.com, EST 2007.
