Eight Capital Upgrades Empire Company Limited (EMP.A) to “Buy”
Empire Company Limited (TSE:EMP.A) was upgraded by equities researchers at Eight Capital from a “neutral” rating to a “buy” rating in a report issued on Friday. The brokerage currently has a C$30.00 target price on the stock, up from their prior target price of C$21.00.
EMP.A has been the subject of several other reports. National Bank Financial boosted their price target on Empire Company Limited from C$22.00 to C$24.00 and gave the company an “outperform” rating in a research note on Thursday, June 29th. CIBC boosted their price target on Empire Company Limited from C$18.00 to C$22.00 and gave the company a “market perform” rating in a research note on Thursday, June 29th. Raymond James Financial, Inc. boosted their price target on Empire Company Limited from C$16.00 to C$20.00 and gave the company a “market perform” rating in a research note on Thursday, June 29th. TD Securities boosted their price target on Empire Company Limited from C$20.00 to C$25.00 and gave the company a “hold” rating in a research note on Friday. Finally, Royal Bank Of Canada upgraded Empire Company Limited from an “underperform” rating to a “sector perform” rating and boosted their price target for the company from C$21.00 to C$23.00 in a research note on Friday. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Empire Company Limited has a consensus rating of “Buy” and a consensus price target of C$25.35.
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Empire Company Limited Company Profile
Empire Company Limited is engaged in the business of food retailing and related real estate. The Company’s segments include Food Retailing, and Investments and Other Operations. The Food Retailing segment consists of its subsidiary, Sobeys Inc, which owns, affiliates or franchises over 1,500 stores in approximately 10 provinces under retail banners that include Sobeys, Safeway, IGA, Foodland, FreshCo, Thrifty Foods, and Lawton’s Drug Stores, as well as more than 350 retail fuel locations.
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