Goeasy upgraded to Outperformer from Neutral at CIBC

CIBC analyst Nik Priebe upgraded Goeasy to Outperformer from Neutral with a price target of C$200, up from C$175. Despite announcing new measures to “crack down on predatory lending,” Federal budget changes were relatively benign and did not include a further reduction to the maximum rate of interest allowable under the criminal code, the analyst tells investors in a research note. CIBC says the outcome is an important de-risking event as the probability of further action on the rate cap has diminished.