Empire Company Limited (OTCMKTS:EMLAF) Receives Average Rating of “Buy” from Analysts

Shares of Empire Company Limited (OTCMKTS:EMLAF) have earned an average rating of “Buy” from the seven analysts that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $45.33.

A number of equities research analysts recently issued reports on EMLAF shares. BMO Capital Markets reduced their target price on Empire from C$47.00 to C$45.00 and set an “outperform” rating on the stock in a research note on Friday, June 25th. Desjardins upped their target price on Empire from C$44.00 to C$45.00 and gave the company a “buy” rating in a research note on Friday, June 25th. Finally, CIBC upped their target price on Empire from C$45.00 to C$46.00 and gave the company an “outperform” rating in a research note on Friday, June 25th.

EMLAF stock traded up $0.18 on Thursday, reaching $31.61. The company had a trading volume of 4,604 shares, compared to its average volume of 4,850. Empire has a 1 year low of $24.51 and a 1 year high of $34.90. The firm’s fifty day moving average price is $33.14.

About Empire

Empire Company Limited, together with its subsidiaries, engages in the food retail and related real estate businesses in Canada. It operates through two segments, Food Retailing, and Investments and Other Operations. The company owns, affiliates, and franchises approximately 1,500 retail stores under various retail banners, including Sobeys, Safeway, IGA, Foodland, FreshCo, Thrifty Foods, Farm Boy, Longo's, and Lawtons Drugs; and approximately 350 retail fuel locations, as well as operates grocery e-commerce stores under the banners, such as Voilà by Sobeys, Grocery Gateway, IGA.net, and ThriftyFoods.com.

Recommended Story: Why are gap-down stocks important?

Analyst Recommendations for Empire (OTCMKTS:EMLAF)

Receive News & Ratings for Empire Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Empire and related companies with MarketBeat.com's FREE daily email newsletter.