The Bank of Nova Scotia (NYSE: BNS) has benefited from exceptional positive changes in investment behavior: positive upside/downside volume developed, the stock’s recent price rise disrupted its longer term downtrend, and its shorter term price trend turned up.
Recent small 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 A. We would continue to view the shares with optimism pending completion of this review in the next several days.
Current PriceTarget Research Rating
BNS’ future returns on capital are forecasted to exceed the cost of capital. Accordingly, the company is expected to continue to be a Value Builder.
Bank of Nova Scotia has a current Value Trend Rating of A (Highest Rating). The Value Trend Rating reflects inconsistent signals from PTR’s two proprietary measures of a stock’s attractiveness. Bank of Nova Scotia has a neutral Power Rating of 52 but a very high Appreciation Score of 98, triggering the Highest Value Trend Rating.
Recent Price Action
The Bank of Nova Scotia (NYSE: BNS) stock closed at $48.59 on 8/26/24 after a modest gain of 0.4%. However, this advance was accompanied by exceptionally low trading volume at 35% of normal. The stock has performed in line with the market over the last nine months and has risen 3.1% during the last week.
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