The Globe and Mail reports in its Tuesday, Jan. 20, edition that TD Cowen analyst Graham Ryding downgraded goeasy from "buy" to "hold," citing an overly high consensus forecast and a lower anticipated consumer loan yield for 2026. The Globe's David Leeder writes in the Eye On Equities column that Mr. Ryding gave his share target a $25 trim to $135. Analysts on average target the shares at $189. Mr. Ryding says in a note: "We believe the run-off of higher-yielding loans and potential write-off of some interest receivables could weigh on the consumer yield and earnings. A muted earnings growth profile could keep valuation compressed (we forecast a 6-per-cent two-year EPS CAGR through 2026. Although we are factoring in management's cautious outlook toward credit (from Q3/25) into our Q4/25 forecasts, we believe the primary difference between us and consensus for 2026 is our lower consumer yield forecast. We are modelling 29.5 per cent vs. consensus of 30.2 per cent (we estimate). The introduction of a regulated rate cap of 35 per cent in 2025 contributed to goeasy's consumer yield compressing 280bps (2025 YTD average vs. 2024). As of Q4/24, 33 per cent of goeasy's loans had legacy rates above the 35-per-cent rate cap."