The Globe and Mail reports in its Thursday edition that BMO Nesbitt Burns analyst Sohrab Movahedi says the fourth quarter results for Bank of Nova Scotia show it is "firing on all cylinders." The Globe's David Leeder writes in the Eye On Equities column that on Tuesday, Scotiabank posted cash earnings per share of $1.58, ahead of the Street's projection of $1.51. Mr. Movahedi says in a note: "Overall, a clean, broad-based beat with solid underlying business trends across the board: another strong quarter in GBM (primary source of beat relative to our expectations), and continued good momentum in Canadian and International Banking segments. Credit fundamentals remain intact and the bank delivered a CET1 ratio of 11 per cent, up from 10.5 per cent last quarter. Book value per share was up 7 per cent year over year." He continues to rate the shares "outperform." He raised his share target price to $80 from $75. Analysts on average target the shares at $78.08. Elsewhere, EVA Dimensions analyst Neil Fonseca upgraded his rating for the stock to "overweight" from "underweight." He did not specify a target price. Desjardins Securities analyst Doug Young raised his target to $80 from $75 with a "buy" rating.