Loblaw Companies Price Target Increased to C$60.00 by Analysts at TD Securities (L)
Stock analysts at TD Securities upped their price objective on shares of Loblaw Companies (TSE:L) from C$59.00 to C$60.00 in a report issued on Friday, Stock Ratings Network.com reports. The firm currently has a “buy” rating on the stock. TD Securities’ target price points to a potential upside of 35.47% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at CIBC raised their price target on shares of Loblaw Companies from C$50.00 to C$52.00 in a research note on Friday. 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, February 11th. They now have an “outperform” rating on the stock. Ten analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and a consensus target price of C$55.00.
Loblaw Companies (TSE:L) traded up 0.95% during mid-day trading on Friday, hitting $44.71. The stock had a trading volume of 517,704 shares. Loblaw Companies has a one year low of $39.96 and a one year high of $52.06. The stock has a 50-day moving average of $42.97 and a 200-day moving average of $44.6. The company has a market cap of $12.612 billion and a P/E ratio of 18.93.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, April 1st. Stockholders of record on Tuesday, April 15th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.17%.
Loblaw Companies Limited is a food distributor and a provider of drugstore, general merchandise and financial products and services.
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