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

EQB (TSE:EQB) had its price objective cut by equities research analysts at Scotiabank from C$130.00 to C$119.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Scotiabank’s price target points to a potential upside of 16.92% from the stock’s current price.

Several other analysts have also issued reports on EQB. BMO Capital Markets upped their price target on shares of EQB from C$106.00 to C$119.00 in a research report on Monday, November 18th. CIBC boosted their target price on EQB from C$113.00 to C$130.00 in a research note on Tuesday, November 26th. TD Securities lowered EQB from a “buy” rating to a “hold” rating and reduced their price target for the stock from C$126.00 to C$110.00 in a research report on Friday, December 6th. Jefferies Financial Group set a C$129.00 price target on EQB and gave the stock a “buy” rating in a research note on Thursday, January 30th. Finally, Raymond James increased their price objective on EQB from C$112.00 to C$121.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$117.20.

EQB Stock Performance

EQB stock opened at C$101.78 on Thursday. The company has a market capitalization of C$3.94 billion, a PE ratio of 15.87, a price-to-earnings-growth ratio of 0.34 and a beta of 1.59. EQB has a one year low of C$78.24 and a one year high of C$114.22. The company’s 50 day moving average price is C$105.05 and its two-hundred day moving average price is C$103.61.

About EQB

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.