The Globe and Mail reports in its Wednesday, Jan. 10, edition that TD Securities analyst Graham Ryding, updating his valuation for EQB to fall in line with multiple expansion of its peers, has raised his share target to $105 from $94. The Globe's David Leeder writes in the Eye On Equities column that Mr. Ryding has reaffirmed his "buy" recommendation for EQB. Analysts on average target the shares at $101.88. Mr. Ryding says in a note: "Since EQB's Q4/F23 results (Dec. 7, 2023), P/E multiples for peers (Big Six banks and regionals) have increased approximately one times. EQB has moved up in similar fashion. This is likely due to the market putting a higher probability on the potential for interest-rate declines and a softer landing scenario. We are maintaining our estimates at this time. Given the multiple expansion for peers, we are moving our target price multiple higher for EQB. ... In our view, more muted EPS growth in F2024 (vs. recent years) appears reasonable in the context of an environment that could reflect lower loan growth, flat to modestly declining NIMs, and higher PCLs. Nonetheless, EQB has a strong credit track record, and has consistently delivered solid earnings growth."