Royal Bank Of Canada Upgrades Empire Company Limited (EMP.A) to Sector Perform
Empire Company Limited (TSE:EMP.A) was upgraded by equities research analysts at Royal Bank Of Canada from an “underperform” rating to a “sector perform” rating in a research note issued on Friday. The brokerage currently has a C$23.00 price target on the stock, up from their previous price target of C$21.00.
Other equities analysts also recently issued research reports about the company. Eight Capital raised their target price on Empire Company Limited from C$19.00 to C$20.00 in a research report on Thursday, June 22nd. BMO Capital Markets upgraded Empire Company Limited from a “market perform” rating to an “outperform” rating and raised their target price for the stock from C$19.00 to C$25.00 in a research report on Friday, June 30th. Scotiabank raised their target price on Empire Company Limited from C$24.50 to C$25.50 and gave the stock an “outperform” rating in a research report on Thursday, June 29th. CIBC raised 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 report on Thursday, June 29th. Finally, Raymond James Financial, Inc. raised 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 report on Thursday, June 29th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of C$25.35.
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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