National Bank Financial Raises Loblaw Companies (L) Price Target to C$67.00

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Loblaw Companies (TSE:L) had its price objective increased by equities research analysts at National Bank Financial from C$62.00 to C$67.00 in a research report issued on Wednesday. The firm currently has a “sector perform” rating on the stock. National Bank Financial’s target price would suggest a potential upside of 0.57% from the company’s previous close.

Several other analysts have also recently weighed in on the stock. CIBC boosted their price objective on shares of Loblaw Companies from C$69.00 to C$70.00 in a research note on Thursday, November 15th. Raymond James reduced their price objective on shares of Loblaw Companies from C$85.00 to C$66.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 14th. Desjardins boosted their price objective on shares of Loblaw Companies from C$62.00 to C$66.00 and gave the stock a “buy” rating in a research note on Thursday, November 15th. BMO Capital Markets reduced their price objective on shares of Loblaw Companies from C$82.00 to C$70.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 7th. Finally, Royal Bank of Canada reduced their price objective on shares of Loblaw Companies from C$84.00 to C$73.00 and set an “outperform” rating on the stock in a research note on Friday, November 2nd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Loblaw Companies presently has a consensus rating of “Buy” and an average price target of C$69.44.

Shares of TSE L traded up C$0.57 during midday trading on Wednesday, reaching C$66.62. 189,384 shares of the company were exchanged, compared to its average volume of 579,733. The stock has a market cap of $24.77 billion and a PE ratio of 46.49. Loblaw Companies has a one year low of C$50.22 and a one year high of C$66.60. The company has a debt-to-equity ratio of 123.99, a quick ratio of 0.61 and a current ratio of 1.19.

Loblaw Companies (TSE:L) last posted its earnings results on Wednesday, November 14th. The company reported C$1.49 earnings per share for the quarter, topping analysts’ consensus estimates of C$1.41 by C$0.08. The company had revenue of C$14.45 billion for the quarter. As a group, sell-side analysts predict that Loblaw Companies will post 4.38000018057657 earnings per share for the current fiscal year.

In other Loblaw Companies news, Director Michael James Motz sold 37,520 shares of the company’s stock in a transaction on Wednesday, November 21st. The shares were sold at an average price of C$60.42, for a total transaction of C$2,266,958.40. Also, Director William Downe purchased 6,000 shares of the business’s stock in a transaction on Thursday, November 29th. The shares were purchased at an average cost of C$60.85 per share, for a total transaction of C$365,100.00.

Loblaw Companies Company Profile

Loblaw Companies Limited, a food and pharmacy company, provides grocery, pharmacy, health and beauty, apparel, general merchandise, credit card, insurance brokerage, gift card, and telecommunication services in Canada. It operates through three segments: Retail, Financial Services, and Choice Properties.

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Analyst Recommendations for Loblaw Companies (TSE:L)

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