Bank of Nova Scotia Price Target Raised to $104 at TD

MT Newswires Live12-03

TD Securities raised its price target on Bank of Nova Scotia (BNS.TO, BNS) to $104 from $99.

Analyst Mario Mendonca maintained a Buy rating on shares of the Canadian bank following its quarterly results on Tuesday.

The stock rose $2.69, or 2.8%, to $98.72 on the Toronto Stock Exchange.

"Solid y/y NIM expansion, B/S optimization efforts, buybacks, and an improving credit outlook support a better outlook for 2026 EPS growth," Mendonca said in a note to clients.

"We believe the next key development to focus on is the resumption of better loan growth in commercial (currently apparent in retail)," the analyst said.

"A discount valuation and growth momentum to further lift the ROE support our Buy rating."

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

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