Desjardins Downgrades goeasy Ltd. Following Third Quarter Results

Following the company's third-quarter results, Desjardins analyst Gary Ho downgraded goeasy Ltd. to hold from buy and lowered the price target to C$44 from C$56. The analyst noted that the company's credit recovery trajectory has stalled and expanded beyond its auto and powersports portfolio into core unsecured personal loans. Ho highlighted that the fourth-quarter net charge-off guidance of 14.5% to 16% suggests credit normalization is pausing above previous expectations. Consequently, the analyst cut 2027 earnings estimates by more than half to C$3.49 per share.