03:36 PM EST, 02/26/2025 (MT Newswires) -- National Bank has lifted its target on EQB to $117, from $109, and maintained its Sector Perform rating. EQB reported first-quarter adjusted EPS of $2.98 that beat National Bank's $2.84 estimate.

Analyst Gabriel Dechaine notes the "positive surprise" in the results, namely via lower loan losses. PCLs fell 30% shy of National's forecast, with the biggest improvement in credit performance in the long-haul trucking lease portfolio.

"We believe this outcome will be particularly well received by investors considering the elevated level of impairments and losses it has generated for over a year. As such, we view the quarter as a "clearing event"," Dechaine writes.

Reiterate Sector Perform. Target raised to $117, from $109.

Price: 102.00, Change: -0.18, Percent Change: -0.18