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Bank of Nova Scotia Price Target Raised to $117 at RBC

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RBC Capital Markets raised its price target on Bank of Nova Scotia (BNS.TO) to $117 from $98 on Thursday.

Analyst Darko Mihelic maintained a Sector Perform rating on shares of the Canadian bank following its quarterly results.

"We view Q2/26 results as relatively in line with consensus but above our expectations excluding the 'noise,'" Mihelic said in a note to clients.

"Canadian Banking results were the most positive versus our estimates and included sequential NIM improvement (asset spread pickup from loan growth & higher-priced term deposit run off)," the analyst said.

"BNS expects PCLs to moderate from H1/26 levels more gradually than previously anticipated, and guided to an impaired PCL ratio in the mid-50s for the remainder of 2026, slightly elevated versus its initial outlook."

(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

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