tiprankstipranks
Trending News
More News >

Equitable Group: Buy Rating Affirmed Amid Signs of Recovery and Growth Potential

Equitable Group: Buy Rating Affirmed Amid Signs of Recovery and Growth Potential

John Aiken, an analyst from Jefferies, maintained the Buy rating on Equitable Group (EQGPFResearch Report). The associated price target remains the same with C$107.00.

Confident Investing Starts Here:

John Aiken has given his Buy rating due to a combination of factors that suggest potential recovery and growth for Equitable Group. Despite the challenges faced in the second quarter, such as higher-than-expected provisions on loans and a decline in non-interest revenues, Aiken sees signs of improvement on the horizon. The bank’s strong capital position, which allowed for a dividend increase, indicates resilience and potential for future recovery.
Furthermore, Aiken believes that while the current environment is challenging, management’s understanding of the issues and their efforts to address them could lead to improved credit quality in the coming quarters. The expectation of continued growth in the loan portfolio, along with management’s proactive measures, suggests that Equitable Group’s shares could see a meaningful uplift, possibly starting with the third quarter earnings. This outlook underpins Aiken’s Buy rating, as he anticipates that investors who look beyond the immediate hurdles could be rewarded in a more normalized environment by 2026.

EQGPF’s price has also changed moderately for the past six months – from $80.585 to $66.300, which is a -17.73% drop .

Disclaimer & Disclosure

Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.

Report an Issue