Shakespeare wrote:I get a laugh out of this sort of thing:sydney2 wrote:Does anyone know why BNS is down more today than the rest of the banks?
Diversified bank? Uh-ohIan de Verteuil, an analyst at BMO Nesbitt Burns, downgraded the stock [BNS] to “market perform” from “outperform” and also slashed his 12-month price target on the stock to $45.50 from $52.50....
Mr. de Verteuil recommends Canadian Imperial Bank of Commerce and Bank of Montreal, given that their problems are already well-understood and the stocks already trade at low valuations.
Oddly enough, this has been my concern for a while now and is largely the reason I decided to sell my stake in BNS in the spring; it was simply trading at too high a mulitple compared to others in the group.