CIBC Lowers EQB (TSE:EQB) Price Target to C$116.00

EQB (TSE:EQB) had its price target reduced by equities researchers at CIBC from C$126.00 to C$116.00 in a report released on Friday,BayStreet.CA reports. The firm currently has a “hold” rating on the stock. CIBC’s price objective would suggest a potential upside of 28.25% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. National Bankshares reduced their price target on shares of EQB from C$104.00 to C$89.00 and set a “sector perform” rating for the company in a report on Thursday. Jefferies Financial Group upped their target price on EQB from C$107.00 to C$119.00 in a report on Wednesday, August 13th. Scotiabank upgraded EQB to a “hold” rating in a report on Monday, August 18th. Desjardins set a C$110.00 target price on EQB and gave the stock a “buy” rating in a report on Wednesday, August 13th. Finally, BMO Capital Markets lowered their target price on EQB from C$111.00 to C$100.00 in a report on Friday. Two analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of C$102.40.

EQB Stock Performance

TSE:EQB opened at C$90.45 on Friday. EQB has a one year low of C$85.14 and a one year high of C$114.22. The firm has a market cap of C$3.46 billion, a P/E ratio of 9.27, a P/E/G ratio of 0.34 and a beta of 1.42. The firm has a 50-day simple moving average of C$101.32 and a 200-day simple moving average of C$97.59.

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.