Barclays Keeps Their Buy Rating on Bank of Nova Scotia

By Carrie Williams

Bank of Nova Scotia (TSX: BNS), the Financial sector company was revisited on December 19, and remains undervalued for at least one analyst on the street. Analyst John Aiken from Barclays remains bullish on the stock and has a C$87 price target.

According to TipRanks.com, Aiken is ranked 0 out of 5 stars with an average return of -3.5% and a 40.0% success rate. Aiken covers the Financial sector, focusing on stocks such as Canadian Bank of Commerce, National Bank of Canada, and Toronto Dominion Bank.

Currently, the analyst consensus on Bank of Nova Scotia is Strong Buy and the average price target is C$89.14, representing an 8.3% upside.

In a report issued on December 5, Canaccord Genuity also assigned a Buy rating to the stock with a C$93 price target.

Bank of Nova Scotia’s market cap is currently C$98.68B and has a P/E ratio of 12.6.

Bank of Nova Scotia is a financial services institution, which engages in the provision of financial products and services to retail, commercial, and corporate customers. It operates through the following business segments: Canadian Banking, International Banking, Global Banking and Markets, and Other. The Other segment includes small business segments.

The company’s shares closed on Friday at C$82.29.