Loblaw Companies Receives Average Rating of “Buy” from Analysts (TSE:L)
Shares of Loblaw Companies (TSE:L) have earned an average recommendation of “Buy” from the eleven brokerages that are currently covering the stock, Stock Ratings News reports. One research analyst has rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is C$54.73.
L has been the subject of a number of recent research reports. Analysts at BMO Capital Markets cut their price target on shares of Loblaw Companies from C$53.00 to C$51.00 in a research note on Tuesday. They now have an “outperform” rating on the stock. Separately, analysts at TD Securities raised their price target on shares of Loblaw Companies from C$58.00 to C$59.00 in a research note on Tuesday, January 28th. They now have a “buy” rating on the stock. Finally, analysts at Barclays cut their price target on shares of Loblaw Companies from C$54.00 to C$51.00 in a research note on Friday, November 15th. They now have an “overweight” rating on the stock.
Shares of Loblaw Companies (TSE:L) traded up 0.45% during mid-day trading on Wednesday, hitting $42.26. 101,151 shares of the company’s stock traded hands. Loblaw Companies has a 1-year low of $39.10 and a 1-year high of $52.06. The stock has a 50-day moving average of $42.95 and a 200-day moving average of $44.91. The company has a market cap of $11.921 billion and a P/E ratio of 17.98.
Loblaw Companies Limited is a food distributor and a provider of drugstore, general merchandise and financial products and services.
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