EQB (TSE:EQB) Stock Price Expected to Rise, Desjardins Analyst Says

Key Points

• Desjardins raised its target price on EQB to C$132 and kept a "buy" rating, implying roughly a 10.46% upside from the prior close.
• Analyst opinions are mixed after several recent target adjustments (Scotiabank, National Bank, Jefferies, TD, BMO), leaving a consensus rating of "Hold" and an average price target of C$118.22.
• EQB traded at C$119.50 (down C$1.76) with a market cap of C$4.38 billion, a PE of 19.95, and a 52-week range of C$83.93–C$126.51.

EQB (TSE:EQB - Get Free Report) had its target price raised by equities research analysts at Desjardins from C$130.00 to C$132.00 in a report released on Tuesday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the stock. Desjardins' price objective points to a potential upside of 10.46% from the company's previous close.

EQB has been the subject of a number of other reports. Scotiabank boosted their price objective on EQB from C$105.00 to C$122.00 in a research report on Friday, February 27th. National Bank Financial boosted their price target on EQB from C$111.00 to C$120.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 26th. Jefferies Financial Group boosted their price target on EQB from C$97.00 to C$109.00 in a research report on Wednesday, February 11th. TD Securities dropped their price target on EQB from C$138.00 to C$132.00 in a research report on Thursday, February 26th. Finally, BMO Capital Markets upgraded EQB from a "hold" rating to an "outperform" rating and boosted their price target for the stock from C$108.00 to C$130.00 in a research report on Tuesday, January 20th. Four analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of C$118.22.

EQB Price Performance

TSE:EQB traded down C$1.76 during trading hours on Tuesday, reaching C$119.50. The company had a trading volume of 67,610 shares, compared to its average volume of 137,592. EQB has a 1-year low of C$83.93 and a 1-year high of C$126.51. The firm has a market cap of C$4.38 billion, a PE ratio of 19.95, a price-to-earnings-growth ratio of 0.34 and a beta of 0.70. The business's 50 day moving average price is C$115.01 and its 200-day moving average price is C$104.58.

EQB Company Profile

EQB Inc formerly Equitable Group Inc trades on the Toronto Stock Exchange TSX: EQB and EQB.PR.C and serves over 360000 Canadians through its wholly owned subsidiary Equitable Bank Canadas Challenger Bank. Equitable Bank has grown to become the countrys eighth largest independent Schedule I bank with a clear mandate to drive real change in Canadian banking to enrich peoples lives. At Equitable Bank we are as invested in our employees as we are in our business. Thats why we are consistently recognized as one of Canadas Top Employers a rating that comes from our 1300+ employees.

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