The stock of Equitable Group Inc. (TSE:EQB) gapped up by $0.02 today and has $90.82 target or 65.00% above today’s $55.04 share price. The 9 months technical chart setup indicates low risk for the $871.92 million company. The gap was reported on Nov, 17 by Barchart.com. If the $90.82 price target is reached, the company will be worth $566.75M more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 25,109 shares traded hands. Equitable Group Inc. (TSE:EQB) has risen 0.54% since April 13, 2016 and is uptrending. It has underperformed by 4.08% the S&P500.
Equitable Group Inc. (TSE:EQB) Ratings Coverage
Out of 4 analysts covering Equitable Group Inc. (TSE:EQB), 2 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 50% are positive. $72 is the highest target while $63 is the lowest. The $68.50 average target is 24.45% above today’s ($55.04) stock price. Equitable Group Inc. has been the topic of 11 analyst reports since July 28, 2015 according to StockzIntelligence Inc. As per Friday, August 14, the company rating was maintained by Scotia Capital. Scotia Capital maintained Equitable Group Inc. (TSE:EQB) rating on Friday, November 11. Scotia Capital has “Sector Perform” rating and $68 price target. The stock of Equitable Group Inc. (TSE:EQB) has “Buy” rating given on Monday, August 17 by TD Securities.
Equitable Group Inc. is a financial services firm that operates through its subsidiary, Equitable Bank . The company has a market cap of $871.92 million. The Bank provides mortgage loans to a range of clients that include business-for-self borrowers, newcomers to Canada and commercial real estate investors. It has a 7.01 P/E ratio. It also provides savers with various saving options that offer security and competitive interest rates, including guaranteed investment certificates (GICs), high interest savings accounts (HISAs) and deposit notes.
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