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UPDATE: Stifel Nicolaus Initiates Bank of Nova Scotia at Hold; Valuation Full

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Earnings Scheduled For August 29, 2017
Earnings Scheduled For May 30, 2017

Stifel Nicolaus initiated coverage on Bank of Nova Scotia (NYSE: BNS) with a Hold rating given the challenging macro environment surrounding the company.

Stifel Nicolaus noted, "Our Hold rating is largely based on the combination of:1) the decelerating growth in the company's emerging market footprint, 2) the tepid economic conditions within Canada, 3) the potential for modestly negative consensus EPS estimate revisions due to slowing balance sheet growth, and 4) the shares' premium valuation of nearly 11.0x our 2013 EPS estimate."

Bank of Nova Scotia closed at $53.34 on Monday.

Latest Ratings for BNS

DateFirmActionFromTo
May 2017BarclaysUpgradesEqual-WeightOverweight
Nov 2016Credit SuisseAssumesNeutral
Nov 2016Bank of AmericaInitiates Coverage OnBuy

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View the Latest Analyst Ratings

Posted-In: Stifel NicolausAnalyst Color Initiation Intraday Update Analyst Ratings

 

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