BMO Capital analyst Etienne Ricard has maintained their bullish stance on EQGPF stock, giving a Buy rating on February 20.
Etienne Ricard has given his Buy rating due to a combination of factors that highlight Equitable Group’s positive financial trajectory. The company’s Q1/25 results surpassed expectations, with an adjusted EPS of $2.98, exceeding both consensus and BMO estimates. This performance was driven by stronger gains on securitizations and net interest income, despite some challenges with net impaired loans increasing. Additionally, the reported provisions for credit losses were better than anticipated, indicating a potential peak in credit losses.
Furthermore, Equitable Group’s maintained guidance for 2025, which includes growth in loans under management and a stable net interest margin, supports a positive outlook. The recent increase in dividends and the constructive backdrop provided by recent interest rate cuts also contribute to the company’s potential for enhanced loan growth. Despite the unexpected departure of CFO Chadwick Westlake, the company’s strategic execution and diversified funding sources provide confidence in its continued financial health and growth prospects.
Ricard covers the Financial sector, focusing on stocks such as Victory Capital Holdings, Apollo Global Management, and Invesco. According to TipRanks, Ricard has an average return of 24.0% and a 70.53% success rate on recommended stocks.
In another report released on February 20, Scotiabank also maintained a Buy rating on the stock with a C$119.00 price target.