Key Takeaways
- ABN Amro Bank N.V. (ABN.AS) announced plans to eliminate 5,200 full-time positions by 2028 as part of a significant cost-cutting and efficiency drive.
- Jefferies has revised its outlook on several companies, increasing the price target for Agilent Technologies (A) from $130 to $150 and for CIBC (CM) from C$106 to C$118.
- Conversely, Jefferies lowered its price target for EQB Inc (EQB) to C$93 from C$107, indicating a more cautious stance on the Canadian lender.
ABN Amro Bank N.V. (ABN.AS) revealed a substantial restructuring plan today, aiming to reduce its workforce by 5,200 full-time equivalent (FTE) positions by 2028. The Dutch bank's new financial strategy, spearheaded by CEO Marguerite Bérard, seeks to "right-size" its cost base and enhance profitability. Over 1,000 jobs have already been cut in 2025, with the remaining 4,200 set to disappear in the coming years. The bank has committed to a robust social plan to support affected employees. This move follows recent strategic actions, including the acquisition of mortgage bank NIBC and the sale of its personal loan subsidiary, Alfam.
In analyst news, Jefferies has made several notable adjustments to price targets across different sectors. The firm increased its price target for Agilent Technologies (A) from $130 to $150. This positive revision reflects Jefferies' continued coverage of the life sciences company. Earlier in October 2025, Jefferies had raised Agilent's price target to $130 from $120, maintaining a Hold rating on the shares.
Meanwhile, Jefferies also revised its price targets for two Canadian financial institutions. The firm raised its price target for CIBC (CM) from C$106 to C$118. This upward adjustment suggests an optimistic outlook on the Canadian Imperial Bank of Commerce.
Conversely, Jefferies adopted a more conservative stance on EQB Inc (EQB), lowering its target price to C$93 from C$107. This follows a previous downgrade by Jefferies analyst John Aiken from a Buy to a Hold rating for EQB Inc in August 2025, with a target price of C$107 from C$119. The revised target indicates a potential re-evaluation of the lender's near-term prospects.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.