One year target is $18.50:James Hodgins recommended on BNNJames Hodgins, Chief Investment Officer, Curvature Hedge Strategies recommended on BNN (June 20, 2014) :
Equity Financial (EQI TSX) - Most recent purchase: last week at approximately $9.43
This is a very cheap turnaround story with new management and deep pockets behind it. Trades at one times book value vs. peers equitable or home capital, which are two to three times book value. As management ramps the return on equity of its loan portfolio that valuation gap with normalize. Management is also highly cautious on the housing market and is very strict in its lending practices. One year target is $18.50 or two times book value.