EQB Price Target Increased by Raymond James

Shares of EQB (TSE:EQB) experienced a significant update as Raymond James, a notable research firm, increased its price target for the stock from C$112.00 to C$121.00. This upgrade, announced in a report on Friday, also included an "outperform" rating for the company. The revised target suggests a potential upside of approximately 13.08% from the stock's previous closing price.

In addition to Raymond James, other analysts have recently expressed their opinions regarding EQB. For example, Cormark downgraded EQB from a "buy" rating to a "market perform" status, while also lowering its price target from C$131.00 to C$110.00 in their report dated December 5. Meanwhile, Scotiabank reduced their price estimate from C$135.00 to C$130.00 on December 6. Additionally, TD Securities lowered EQB from a "buy" rating to a "hold" rating, decreasing their price target from C$126.00 to C$110.00 the same day. However, CIBC raised their price target for EQB shares from C$113.00 to C$130.00 prior to this announcement, and BMO Capital Markets increased their target from C$106.00 to C$119.00 earlier in November.

Overall, one analyst has assigned a sell rating, three analysts have given a hold rating, and five analysts have issued buy ratings for EQB. According to statistics from MarketBeat.com, EQB currently holds an average rating of "Hold" with an average price target set at C$115.50.

EQB Stock Performance

On Friday, during mid-day trading, EQB shares rose by C$0.84, reaching a price of C$107.00. The trading volume for the day amounted to 25,348 shares, significantly lower than the average volume of 68,708 shares. EQB's stock features a 50-day moving average of C$104.57 and a 200-day moving average of C$100.83. Over the past year, the stock's value has ranged from a low of C$78.24 to a high of C$113.20. Currently, EQB has a market capitalization of C$4.11 billion and demonstrates a price-to-earnings ratio of 11.24 along with a P/E/G ratio of 0.34 and a beta of 1.59.

About EQB

EQB Inc, previously known as Equitable Group Inc, operates on the Toronto Stock Exchange under the ticker TSX: EQB and EQB.PR.C. The company caters to over 360,000 Canadians through its subsidiary, Equitable Bank, recognized as Canada's Challenger Bank. Equitable Bank has successfully become the eighth largest independent Schedule I bank in the country, with a firm commitment to transforming Canadian banking for the benefit of its customers.

EQB, Stocks, Analysis