EQB Price Target Increased to C$121.00 by Raymond James

Shares of EQB Inc. (TSE:EQB - Get Free Report) received a boost as Raymond James, a well-known equities research firm, increased their price target for the stock from C$112.00 to C$121.00. This change was announced in a research note released on Friday, where the firm also maintained an "outperform" rating on EQB. The new target price suggests a potential upside of 13.08%, based on the stock's previous closing price.

Recently, several research analysts have adjusted their ratings and price targets for EQB. Cormark downgraded their rating for EQB from "buy" to "market perform" and also reduced their target price significantly from C$131.00 to C$110.00 on December 5th. On the following day, Scotiabank lowered the price target for EQB from C$135.00 to C$130.00. Similarly, on the same day, TD Securities revised their rating from "buy" to "hold" and decreased their target price from C$126.00 to C$110.00. On the positive side, CIBC raised their price target from C$113.00 to C$130.00 in a report dated November 26th, while BMO Capital Markets increased their target from C$106.00 to C$119.00 on November 18th.

Overall, one analyst has rated EQB as a sell, three have given it a hold rating, and five analysts have assigned buy ratings. According to data from MarketBeat.com, the average rating for EQB is "Hold" with an average target price of C$115.50.

Recent Performance of EQB Stock

During midday trading on Friday, EQB's stock increased by 0.8%, rising C$0.84 to reach a price of C$107.00. The trading volume stood at 25,348 shares, which is lower than its average volume of 68,708 shares. The company's stock is supported by 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 stock hit a low of C$78.24 and a high of C$113.20. Currently, EQB has a market capitalization of C$4.11 billion, a price-to-earnings (P/E) ratio of 11.24, a P/E/G ratio of 0.34, and a beta of 1.59.

About EQB Inc.

EQB Inc., formerly known as Equitable Group Inc., operates on the Toronto Stock Exchange under the ticker symbol EQB and EQB.PR.C. The company provides services to over 360,000 Canadians through its wholly-owned subsidiary, Equitable Bank, known as Canada’s Challenger Bank. Equitable Bank is now the eighth-largest independent Schedule I bank in Canada, with a mission to create meaningful changes in the banking industry and enhance the quality of life for Canadians.

EQB, Stocks, Finance