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RBC Capital Cuts Equitable Group Price Target By ~6%

By Akanksha Bakshi
  • RBC Capital analyst Geoffrey Kwan lowered the price target for Equitable Group Inc. (TSX:EQB) (OTC:EQGPF) to C$80 from C$85.
  • The analyst maintained the Outperform rating on the shares.
  • Kwan stated that 1Q22 EPS was better than their forecast and consensus.
  • According to the analyst, EQB continues to achieve solid financial outcomes. However, with the housing and mortgage markets weakening, the analyst believes sector valuations will be driven by sentiment rather than fundamentals in the short term.
  • Kwan believes EQB has a very solid track record of growth and profitability, and given his expectation that mortgage loan growth would decrease, a housing downturn with significant mortgage losses is unlikely.
  • Also read: EQ Bank Raises Interest Rate On US Dollar Accounts By 25bps.
  • Price Action: EQB shares are trading higher by 1.23% at C$56.19 on TSX, and EQGPF is higher by 0.59% at $42.85 on the last check Thursday.
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Dive Deeper:
RBC Capital Cuts dentalcorp Price Target By 10%
dentalcorp Holdings Ltd (TSX: DNTL) price target has been lowered to C$18 from C$20 by RBC Capital analyst Douglas Miehm. The analyst has…
RBC Capital Cuts Hudbay Minerals Price Target By 14%
RBC Capital analyst Sam Crittenden lowered the price target for HudBay Minerals Inc (TSX:HBM) (NYSE:HBM) to C$12 from C$14. The analyst maintained the Outperform rating…
RBC Capital Cuts Softchoice Price Target By 15%
RBC Capital analyst Paul Treiber lowered the price target for Softchoice Corp (TSX:SFTC) (OTC:SFTFC) to C$23 from C$27 while maintaining the Sector Perform rating on…
RBC Capital Cuts Stella-Jones Price Target By 7%
Stella-Jones Inc (TSX:SJ) (OTC:STLJF) price target has been lowered to C$40 from C$43 by  RBC Capital analyst Walter Spracklin. The analyst maintained the Sector Perform…
One subscription that gives you access to news from hundreds of sites
RBC Capital Cuts iA Financial Price Target By ~10%
iA Financial Corporation Inc (TSX:IAG) (OTC:IAFNF) price target has been reduced to C$86 from C$96 by RBC Capital analyst Darko Mihelic to account for higher…
RBC Capital Slashes Cascades Price Target By 12%
Cascades Inc. (TSX:CAS) (OTC:CADNF) price target has been lowered to C$15 from C$17 by RBC Capital analyst Paul C. Quinn after the Q1 results. The…
Get all your news in one place