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Bank of America has downgraded Bank of Nova Scotia (TSE:BNS) from a "buy" to a "neutral" rating, lowering its target price from C$82.00 to C$70.00, indicating a potential upside of 2.88%. Other analysts have also adjusted their price targets, with a consensus rating of "Hold" and an average target of C$76.73. The stock recently traded at C$68.04, with a market cap of C$83.38 billion.
The Bank of Nova Scotia operates through various segments, including Canadian and International Banking, Global Wealth Management, and Global Banking and Markets. Recently, JPMorgan Chase & Co. reduced its stake in the bank by 4.9%, while other hedge funds have also adjusted their holdings. The bank's stock opened at $47.74, with a market cap of $59.46 billion and a dividend yield of 6.21%. Analysts currently rate the stock as a "Hold," with a consensus target price of $81.00.
Arcos Dorados Holdings Inc., the exclusive franchisee of McDonald's in 20 Latin American and Caribbean countries, reported a quarterly EPS of $0.28, exceeding estimates. The company announced a quarterly dividend of $0.06 per share, with a yield of 2.95%. Institutional investors hold 55.91% of its stock, while analysts have recently downgraded its rating from "buy" to "hold."
Scotiabank has appointed Pablo Elek, previously a top executive at HSBC's Mexico unit, as CEO of its Mexican operations, effective May 15. This move aligns with the bank's strategy to focus on North America, as it shifts capital away from Latin America, including the transfer of operations in Colombia, Costa Rica, and Panama to Banco Davivienda. CEO Scott Thomson noted that while the bank is cautious about U.S. tariffs, it remains committed to its North American corridor strategy.
Scotiabank has appointed Pablo Elek, previously a top executive at HSBC's Mexico unit, as CEO of its Mexican operations, effective May 15. This move comes as the bank shifts its focus towards North America, having already transferred operations in Colombia, Costa Rica, and Panama to Banco Davivienda. Scotiabank's capital strategy reflects a significant emphasis on the U.S. and Canada, with Mexico contributing less than 10% to its earnings.
Morgan Stanley Investment Management has announced a portfolio management change for the Morgan Stanley China A Share Fund, Inc. In other news, Indian equities continued to rise, driven by gains in banks and energy stocks, while Citigroup adjusted its price target on Morgan Stanley to $125, maintaining a neutral rating. Additionally, Morgan Stanley raised its GDP growth forecast for China in 2025.
Ecora Resources has acquired a $50 million copper stream from Moxico Resources’ Mimbula mine in Zambia, enhancing its earnings and copper portfolio. ATOME PLC's partnership with Hy24 on the Villeta project advances its hydrogen initiatives, while CleanTech Lithium targets an ASX listing pending government decisions on its Laguna Verde project. Nostra Terra Oil and Gas has nearly doubled production at Pine Mills to 99 barrels per day, and Alt Resources aims to be the only AIM-listed royalty company focused on gold and critical minerals, with a new acquisition supporting Theta Gold Mines' development in South Africa.
Emerging market sovereigns face vulnerabilities amid rising global financial volatility, particularly with the U.S. dollar rallying. Countries like Argentina, Turkey, and South Africa have seen significant currency depreciations, while exposure to currency risk varies widely, with South American nations notably affected. Additionally, potential capital outflows and increased interest burdens could exacerbate financial pressures for several emerging economies.
Liberty Latin America (NASDAQ:LILA) was downgraded by Barclays from "equal weight" to "underweight," with a new price target of $6.50, indicating a potential downside. The company reported a quarterly EPS of -$0.90 and has a market cap of $1.37 billion, with a 52-week range of $5.93 to $10.81. Recent insider activity includes Director Brendan J. Paddick acquiring over 34,000 shares, increasing his stake in the company.
UBS analyst Priya Sachdeva raised Penumbra's stock price target to $320 from $305, maintaining a Buy rating following strong fourth-quarter results and 2025 guidance. The company reported EPS of $0.97 and revenue of $321.3 million, exceeding expectations, while projecting 12-14% revenue growth for the upcoming fiscal year. Analysts highlight significant growth in Penumbra's U.S. thrombectomy business and its strategic focus on expanding its CAVT portfolio to capture more market share.
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bank of nova scotia downgraded to neutral by bank of america
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20:07 01.04.2025
bank of nova scotia updates on stock performance and dividend announcement
10:13 01.04.2025
arcos dorados reports earnings growth and dividend announcement amid stock fluctuations
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09:03 31.03.2025
Scotiabank appoints Pablo Elek as CEO of Mexico unit
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13:07 26.03.2025
Scotiabank appoints Pablo Elek as CEO of Mexico unit
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21:45 25.03.2025
Morgan Stanley announces management changes for China A Share Fund
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13:46 24.03.2025
investment updates from ecora resources atome plc and clean tech lithium
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14:57 28.02.2025
BNP Paribas Report Distribution Across Global Financial Markets
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14:34 27.02.2025
liberty latin america downgraded by barclays amid mixed stock performance
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ubs raises penumbra price target to 320 maintaining buy rating
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