More Targets CIBC’s Nik Priebe raised his Goeasy Ltd. (GSY-T) target to $230 from $220 with an “outperformer” recommendation. Other changes include: Raymond James’ Stephen Boland to $225 from $200 with an “outperform” rating, RBC’s Geoffrey Kwan to $225 from $201 with an “outperform” rating and Desjardins Securities’ Gary Ho to $205 from $190 with a “buy” rating. The average is $217.
“The slight 1Q beat vs our estimate (in line with consensus) was driven by robust loan book growth and better-than-guided revenue yields. GSY expects the loan book to reach the upper end of 2024 guidance. We are more optimistic about a delayed rate cap implementation, putting a positive bias on GSY’s three-year outlook. Credit trends remain manageable. We raised our estimates following constructive 2Q guidance,” said Mr. Ho.