EQB (TSE:EQB) Price Target Increased to C$121.00

Equity researchers at Raymond James have raised their price target for EQB (TSE:EQB) from C$112.00 to C$121.00, as reported in a research note on Friday. This increase comes alongside an "outperform" rating for the stock. The new target price suggests an upside potential of approximately 13.08% based on the stock's previous closing price.

Other analysts have also recently commented on EQB's performance. Specifically, Cormark downgraded EQB from a "buy" rating to a "market perform" rating, lowering their price target from C$131.00 to C$110.00 in a research note dated December 5th. Similarly, Scotiabank adjusted their target for EQB from C$135.00 to C$130.00 and TD Securities lowered their rating from "buy" to "hold," setting a new target at C$110.00.

In contrast, CIBC raised their price target for EQB from C$113.00 to C$130.00 on November 26th, while BMO Capital Markets also increased their target from C$106.00 to C$119.00 on November 18th. An overview of current ratings shows one analyst assigning a sell, three giving a hold rating, and five promoting a buy rating. According to MarketBeat.com, the stock currently holds an average rating of "Hold" and an average price target of C$115.50.

Recent Stock Performance

During midday trading on Friday, EQB's shares increased by C$0.84, reaching a price of C$107.00. A total of 25,348 shares were traded, which is below the average volume of 68,708 shares. The stock has a 50-day moving average of C$104.57 and a 200-day moving average of C$100.83. Over the past year, EQB's share price has seen a low of C$78.24 and a high of C$113.20. Currently, the market cap for EQB stands at C$4.11 billion, with a price-to-earnings (P/E) ratio of 11.24 and a P/E/G ratio of 0.34, while the stock has a beta of 1.59.

About EQB

EQB Inc, formerly known as Equitable Group Inc, is listed on the Toronto Stock Exchange (TSX: EQB and EQB.PR.C). The company serves over 360,000 Canadians through its fully owned subsidiary, Equitable Bank, which operates as Canada’s Challenger Bank. With a clear mandate to drive innovation in Canadian banking, Equitable Bank has grown to be the eighth largest independent Schedule I bank in the country, working to enrich the lives of its customers.

EQB, Stocks, Research