EQB Price Target Increased by Raymond James

Equities researchers at Raymond James have raised their price target on EQB (TSE:EQB) from C$112.00 to C$121.00, according to a report released on Friday. This adjustment reflects Raymond James' current 'outperform' rating on the stock.

The new target price suggests a potential upside of 13.08% compared to the stock's previous closing price. This revision comes amidst a variety of opinions from other research analysts regarding EQB’s stock performance.

Recently, Cormark downgraded EQB from a 'buy' rating to a 'market perform' rating, lowering their target price from C$131.00 to C$110.00 in a note issued on December 5th. Similarly, on December 6th, Scotiabank reduced its price target for EQB from C$135.00 to C$130.00. That same day, TD Securities also adjusted their recommendation, changing it from a 'buy' to a 'hold' rating and lowering their target price from C$126.00 to C$110.00.

In contrast, CIBC raised their price target from C$113.00 to C$130.00 in a report dated November 26th. Meanwhile, BMO Capital Markets increased their price projection from C$106.00 to C$119.00 on November 18th. Overall, one analyst has recommended a sell rating for EQB, three have given it a hold rating, while five have recommended a buy. According to MarketBeat.com, the average rating for the stock is 'Hold', with an average target price of C$115.50.

Performance of EQB Stock

On Friday, shares of TSE EQB saw a modest increase of 0.8%, trading up C$0.84 and reaching a price of C$107.00 during mid-day transactions. The volume for EQB shares on that day was 25,348, which is below its 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.

EQB has seen a one-year low of C$78.24 and a high of C$113.20, with a total market capitalization of C$4.11 billion. The stock's price-to-earnings ratio stands at 11.24, and its P/E/G ratio is 0.34, with a beta value of 1.59.

About EQB Inc.

EQB Inc., formerly known as Equitable Group Inc., operates on the Toronto Stock Exchange (TSX: EQB and EQB.PR.C). The company serves over 360,000 Canadians through its wholly owned subsidiary, Equitable Bank, which is recognized as Canada’s eighth-largest independent Schedule I bank. EQB aims to bring about meaningful change in the Canadian banking landscape to enhance the lives of Canadians.

EQB, Stocks, Investment