Desjardins Issues Pessimistic Forecast for EQB (TSE:EQB) Stock Price

EQB (TSE:EQB) had its price target cut by equities researchers at Desjardins from C$130.00 to C$126.00 in a report issued on Thursday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Desjardins’ price objective would suggest a potential upside of 24.27% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. BMO Capital Markets lifted their target price on shares of EQB from C$106.00 to C$119.00 in a research note on Monday, November 18th. Jefferies Financial Group set a C$129.00 price objective on EQB and gave the stock a “buy” rating in a research note on Thursday, January 30th. Scotiabank reduced their price target on shares of EQB from C$130.00 to C$119.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. National Bankshares raised their price objective on shares of EQB from C$109.00 to C$117.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, TD Securities lowered shares of EQB from a “buy” rating to a “hold” rating and reduced their target price for the stock from C$126.00 to C$110.00 in a research report on Friday, December 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$122.80.

EQB Price Performance

Shares of EQB traded down C$1.89 during trading hours on Thursday, hitting C$101.39. The stock had a trading volume of 38,629 shares, compared to its average volume of 62,069. The stock has a market capitalization of C$3.92 billion, a price-to-earnings ratio of 15.81, a P/E/G ratio of 0.34 and a beta of 1.59. The company’s fifty day moving average is C$105.22 and its two-hundred day moving average is C$103.93. EQB has a 52 week low of C$78.24 and a 52 week high of C$114.22.

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.