Desjardins Maintains Top Pick Rating, C$65 PT for The Bank of Nova Scotia
In a report published earlier today, Desjardins Capital Markets maintained its Top Pick rating and C$65.00 price target for The Bank of Nova Scotia (NYSE: BNS).
Desjardins went on to say “Given our concern about slower growth and weaker profitability in Canadian banking, and over-reliance on trading revenue, one of our recurring themes has been that diversity pays. Scotia's diversity stood out in the past quarter, with robust growth in international banking. We view this diversity and Scotia's acquisition discipline—also evident in its latest results—as key strengths.”
The Bank of Nova Scotia closed yesterday at US$50.84.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.