Barclays maintains an 'Underweight' on Bank of Nova Scotia (BNS); Key Takeaways from CFO Luncheon

Barclays maintains an 'Underweight' on Bank of Nova Scotia (NYSE: BNS) price target of C$54.00.

Barclays analyst says, "Operating Leverage: The key takeaway from the discussion was the fact the Mr. Vanneste (CFO) was adamant that the bank would generate positive operating leverage in the first quarter of 2012. We believe that this would be an incremental positive and warmly received by the market, should Scotia once again be able to outperform its peers on this metric...Capital and the Path to a 7% Basel III ratio: Despite lagging its domestic peers on pro forma Basel III capital ratios, the bank remains quite confident that it can achieve its goal of 7-7.5% common equity ratio under Basel III by Q1-13...Acquisitions: Speaking of which, Canada's most acquisitive bank remains in the hunt and sees significant opportunities stemming from the dislocation emanating out of Europe."

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 $48.53 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Fiserv (FISV) PT Lowered to $60 at Freedom Broker
• DA Davidson Reiterates Neutral Rating on Timken (TKR)
• Freedom Broker Upgrades Serve Robotics (SERV) to Buy