Barclays Maintains an 'Underweight' on Bank of Nova Scotia (BNS); Earnings Quality Good, But Still Risk From Latin America
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Price: $56.28 +0.09%
Rating Summary:
7 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Rating Summary:
7 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Trade BNS Now!
Barclays maintains an 'Underweight' on Bank of Nova Scotia (NYSE: BNS) price target raised from CAD$51 to CAD$55.
Analyst, John Aiken, said, "...The acquisition of the Columbian bank Colpatria had a material impact to the segment's earnings and significantly increased bank-wide net interest margins."
"While we believe that earnings from International will likely be more volatile than some other sources, and Scotia appears to be lagging its peers on a pro forma Basel III capital ratio basis, we are comfortable with its risk profile."
Barclays raises FY12 EPS estimate from $4.58 to $4.70 and FY13 from $4.99 to $5.23.
For an analyst ratings summary and ratings history on Bank of Nova Scotia click here. For more ratings news on Bank of Nova Scotia click here.
Shares of Bank of Nova Scotia closed at $50.84 yesterday, with a 52 week range of $45.79-$61.83.
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Analyst, John Aiken, said, "...The acquisition of the Columbian bank Colpatria had a material impact to the segment's earnings and significantly increased bank-wide net interest margins."
"While we believe that earnings from International will likely be more volatile than some other sources, and Scotia appears to be lagging its peers on a pro forma Basel III capital ratio basis, we are comfortable with its risk profile."
Barclays raises FY12 EPS estimate from $4.58 to $4.70 and FY13 from $4.99 to $5.23.
For an analyst ratings summary and ratings history on Bank of Nova Scotia click here. For more ratings news on Bank of Nova Scotia click here.
Shares of Bank of Nova Scotia closed at $50.84 yesterday, with a 52 week range of $45.79-$61.83.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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