CIBC Forecasts Strong Price Appreciation for EQB (TSE:EQB) Stock

EQB (TSE:EQB) had its target price boosted by CIBC from C$113.00 to C$130.00 in a note issued to investors on Tuesday,BayStreet.CA reports. CIBC’s price objective points to a potential upside of 16.93% from the stock’s previous close.

Other research analysts have also issued reports about the company. TD Securities dropped their target price on EQB from C$112.00 to C$109.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Raymond James lowered their price objective on EQB from C$110.00 to C$106.00 in a report on Wednesday, August 21st. Scotiabank increased their price objective on EQB from C$109.00 to C$135.00 in a report on Monday. Cormark lowered their price objective on EQB from C$121.00 to C$111.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Finally, BMO Capital Markets increased their price objective on EQB from C$106.00 to C$119.00 in a report on Monday, November 18th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, EQB currently has an average rating of “Moderate Buy” and a consensus price target of C$114.25.

EQB Price Performance

EQB stock traded up C$0.61 during mid-day trading on Tuesday, hitting C$111.18. The company’s stock had a trading volume of 13,904 shares, compared to its average volume of 58,191. The firm’s 50 day moving average is C$106.13 and its 200 day moving average is C$97.25. The company has a market cap of C$4.27 billion, a PE ratio of 11.67, a price-to-earnings-growth ratio of 0.34 and a beta of 1.59. EQB has a 52-week low of C$74.00 and a 52-week high of C$111.59.

EQB (TSE:EQB) last announced its quarterly earnings data on Wednesday, August 28th. The company reported C$2.96 earnings per share (EPS) for the quarter, topping the consensus estimate of C$2.93 by C$0.03. EQB had a return on equity of 14.70% and a net margin of 39.67%. The firm had revenue of C$327.24 million during the quarter, compared to the consensus estimate of C$325.00 million. As a group, analysts forecast that EQB will post 12.5988235 EPS for the current year.

About EQB

EQB Inc, through its subsidiary, Equitable Bank, provides personal and commercial banking services to retail and commercial customers in Canada. The company accepts term deposits and guaranteed investment certificates, high interest savings accounts, institutional deposit notes and covered bonds, as well as specialized financing solutions.