Jefferies analyst John Aiken lowered the firm’s price target on Scotiabank (BNS) to C$70 from C$76 and keeps a Hold rating on the shares. The firm reset its outlook for 2025 and believes that growth for the Canada financials resumes in 2026. However, downside risk is still evident with no tariff resolutions, and, while the Canadian financials historically have been relatively resilient to downdrafts, near term variables such as domestic election and potential negotiations “provide little clarity,” the analyst tells investors in a research note. “While some downside has been priced in, we caution that it is far from complete,” contends Jefferies. The firm cut estimates and downgraded both CIBC and National Bank of Canada.
Don’t Miss TipRanks’ Half Year Sale
- Take advantage of TipRanks Premium for 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BNS:
- Bank of Nova Scotia’s Shareholders Meeting Results in Director Elections and Auditor Appointment
- Scotiabank price target lowered to C$71 from C$78 at National Bank
- Scotiabank downgraded to Neutral from Buy at BofA
- Bank of Nova Scotia Issues $1.75 Billion in Covered Bonds
- Scotiabank price target lowered to C$75 from C$81 at CIBC