Scotiabank Reiterates Outperform Rating for Hudson's Bay Co (HBC)
Hudson's Bay Co (TSE:HBC)‘s stock had its “outperform” rating reiterated by analysts at Scotiabank in a note issued to investors on Thursday, StockTargetPrices.com reports. They currently have a C$26.00 price objective on the stock. Scotiabank’s price target would suggest a potential upside of 51.60% from the stock’s current price.
Several other analysts have also recently issued reports on HBC. Royal Bank Of Canada increased their target price on shares of Hudson's Bay Co from C$27.00 to C$31.00 and gave the stock an “outperform” rating in a research note on Thursday, June 2nd. TD Securities lowered their target price on shares of Hudson's Bay Co from C$31.00 to C$30.00 and set a “buy” rating on the stock in a research note on Friday, June 10th. National Bank Financial reiterated a “sector perform” rating and issued a C$18.00 target price on shares of Hudson's Bay Co in a research note on Thursday, July 14th. Finally, CIBC cut shares of Hudson's Bay Co from an “outperform” rating to a “sector perform” rating in a research note on Thursday, September 8th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of C$26.75.
Shares of Hudson's Bay Co (TSE:HBC) traded down 0.35% during mid-day trading on Thursday, hitting $17.09. 142,408 shares of the company traded hands. The stock has a market capitalization of $3.11 billion and a PE ratio of 30.79. The firm’s 50 day moving average price is $17.44 and its 200-day moving average price is $16.61. Hudson's Bay Co has a 1-year low of $14.40 and a 1-year high of $25.26.
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About Hudson's Bay Co
Hudson’s Bay Company (HBC) is a Canada-based department store retailer. The Company is an operator and a consolidator, as well as a real estate developer. The Company’s retail portfolio includes approximately 10 banners, in formats ranging from luxury to better department stores to off price fashion shopping destinations, with over 460 stores.
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