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Stockchase Opinions

Paul Gardner, CFABank of Nova Scotia (Pref.)BNS.PR.O.TOBUYFeb 05, 2008

Prefers are somewhat compelling. Because of the selloff, it is trading below its Call. With the recent changes in the tax laws, a 5% yield comparable to an after-tax yield is about 7.5%.
$25.24

Stock price when the opinion was issued

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COMMENT

Owns the five major Canadian banks. Bank of Nova Scotia is looking for a change in strategy with the new CEO. CIBC is one of the cheapest.

HOLD
5.75% preferred shares probably makes sense.