Q: Hi 5i
EQB up today, is this related to the national bank CWB deal announcement?
If so where does it go from here? Possible takeover target?
Would you continue to be buyers of EQB at this price?
Thx
EQB up today, is this related to the national bank CWB deal announcement?
If so where does it go from here? Possible takeover target?
Would you continue to be buyers of EQB at this price?
Thx
5i Research Answer:
EQB reported very strong results a couple of weeks ago, and given its cheap valuation of 7.4X forward earnings, we feel it has more room to run to the upside in the coming year(s). The move yesterday was mostly related to a strong market day, aided by a soft US inflation print. There might be some thoughts surrounding an acquisition, but largely we see its price movements as being fairly standard daily moves. We would be comfortable buying EQB today.