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Canaccord Genuity Believes Bank Of Nova Scotia (BNS) Won’t Stop Here

In a report released today, Scott Chan CFA from Canaccord Genuity maintained a Buy rating on Bank Of Nova Scotia (BNSResearch Report), with a price target of C$100.00. The company’s shares closed last Monday at $72.34, close to its 52-week high of $74.86.

According to TipRanks.com, CFA is a 5-star analyst with an average return of 11.8% and a 59.4% 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 $77.55, a 9.0% upside from current levels. In a report issued on February 17, Stifel Nicolaus also initiated coverage with a Buy rating on the stock with a C$104.00 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 $6.94 billion and net profit of $2.49 billion. In comparison, last year the company earned revenue of $7.46 billion and had a net profit of $1.83 billion.

Based on the recent corporate insider activity of 34 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BNS in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Founded in 1832, Canada-based Bank of Nova Scotia provides various 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 Global Wealth Management.

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