Bank of Nova Scotia Received its Third Buy in a Row

By Austin Angelo

Analysts seem to be optimistic about Bank of Nova Scotia (TSX: BNS) lately as another research firm gave the stock a Buy rating today. Scotiabank’s analyst Sumit Malhotra reiterates their Buy rating on the shares, with a C$86 price target.

According to TipRanks.com, Malhotra is a 5-star analyst with an average return of 12.0% and a 67.7% success rate. Malhotra covers the Financial sector, focusing on stocks such as Canadian Bank of Commerce, Toronto Dominion Bank, and Royal Bank Of Canada.

Bank of Nova Scotia has an analyst consensus of Moderate Buy, with a price target consensus of C$83.88.

Bank of Nova Scotia’s market cap is currently C$91.2B and has a P/E ratio of 12.5.

The Bank of Nova Scotia operates as a financial services institution that provides financial products and services to retail, commercial and corporate customers. The company was founded on March 30, 1832 and is headquartered in Toronto, Canada.

The company’s shares closed last Tuesday at $76.13.