Loblaw Companies Given Sector Outperform Rating at Scotiabank (L)
Loblaw Companies (TSE:L)‘s stock had its “sector outperform” rating reaffirmed by investment analysts at Scotiabank in a note issued to investors on Friday, AnalystRatingsNetwork reports. They currently have a C$60.00 price target on the stock. Scotiabank’s price target would indicate a potential upside of 31.00% from the stock’s previous close.
Loblaw Companies (TSE:L) traded up 0.55% on Friday, hitting $45.80. 489,704 shares of the company’s stock traded hands. Loblaw Companies has a 52-week low of $32.77 and a 52-week high of $52.06. The stock has a 50-day moving average of $46.52 and a 200-day moving average of $45.49. The company has a market cap of $12.923 billion and a price-to-earnings ratio of 17.79.
Several other analysts have also recently commented on the stock. Analysts at RBC Capital raised their price target on shares of Loblaw Companies (TSE:L) from C$44.00 to C$55.00 in a research note to investors on Wednesday, August 21st. They now have an “outperform” rating on the stock. Separately, analysts at Credit Suisse raised their price target on shares of Loblaw Companies (TSE:L) from C$59.00 to C$61.00 in a research note to investors on Friday, July 26th. They now have an “outperform” rating on the stock. Finally, analysts at CIBC reiterated a “sector perform” rating on shares of Loblaw Companies (TSE:L) in a research note to investors on Friday, July 26th. They now have a C$53.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Loblaw Companies currently has a consensus rating of “Buy” and a consensus price target of C$56.18.
Loblaw Companies Limited is a food distributor and a provider of drugstore, general merchandise and financial products and services.
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