The Globe and Mail reports in its Tuesday, July 30, edition that National Bank Financial analyst Jaeme Gloyn continues to rank goeasy "outperform." The Globe's David Leeder writes in the Eye On Equities column that Mr. Gloyn gave his share target a $25 boost to $235. Analysts on average target the shares at $231.11. Mr. Gloyn says in a note: "We selected goeasy as a top pick in the case of a soft-landing scenario given its exposure to consumer lending. When we selected Goeasy as a top pick in January, we explained that it looks more like an H2 2024 story as we await visibility on the strength of the consumer. Since then, our confidence in the outlook has improved considerably: 1) Goeasy has since reported two quarters of stable net charge-offs in-line with guidance, further proving they can manage net-charge offs in the face of rising unemployment, 2) Canadian unemployment has risen to 6.4 per cent in June from 5.7 per cent in January but remains well below Goeasy's 'moderately pessimistic' case of 8.5 per cent. This suggests the current guidance is achievable, and 3) goeasy's three-year guidance and updated Q2 guidance suggests more rapid loan growth and stable net charge-offs are still to come."
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