UPDATE: National Bank Financial Reiterates Sector Perform Rating, Raises PT for The Bank of Nova Scotia
In a daily bulletin published earlier today, National Bank Financial reiterated its Sector Perform rating for the Bank of Nova Scotia (NYSE: BNS) and raised its price target from C$58.00 to C$60.00.
National Bank went on to say “BNS reported Q2 f2012 core cash EPS (excluding IFRS dilution) of $1.20, beating our forecast of $1.16 and the consensus estimate of $1.15. We see in its Q2 f2012 results why BNS remains the premium-priced Big Six bank. In addition to possessing an attractive array of international banking operations with leverage to emerging markets, the bank also displayed an impressive consistency in its core operating businesses and an apparent return to its traditional cost-conscious culture.”
The Bank of Nova Scotia closed yesterday at C$52.00.
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