Recent exceptional positive changes in investment behavior have benefitted The Bank of Nova Scotia (NYSE: BNS): positive upside/downside volume developed, its shorter term price trend turned up, and the stock rose on very heavy volume.
Recent slight positive changes in fundamentals have benefitted The Bank of Nova Scotia (NYSE: BNS): significant quarterly earnings acceleration occurred.
In light of these very positive signals we are reviewing our current Overall Rating of B. We would continue to view the shares with optimism pending completion of this review in the next several days.
Current PriceTarget Research Rating
With future capital returns forecasted to be above the cost of capital, BNS is expected to continue to be an important Value Builder.
Bank of Nova Scotia has a current Value Trend Rating of B (Positive). The Value Trend Rating reflects very contradictory signals from PTR’s two proprietary measures of a stock’s attractiveness. Bank of Nova Scotia has a very high Appreciation Score of 91 but a slightly negative Power Rating of 34, resulting in the Positive Value Trend Rating.
Recent Price Action
The Bank of Nova Scotia (NYSE: BNS) stock enjoyed a large increase of 2.5% on 12/14/23. The stock closed at $47.12. Moreover, exceptionally high trading volume at 223% of normal accompanied the advance. The stock has performed in line with the market over the last nine months and has risen 7.3% during the last week.
Be the first to comment