TD Securities Issues Positive Forecast for Loblaw Companies (TSE:L) Stock Price

Loblaw Companies (TSE:L) had its price objective increased by equities research analysts at TD Securities from C$63.00 to C$65.00 in a note issued to investors on Thursday,BayStreet.CA reports. TD Securities’ price objective would indicate a potential upside of 8.82% from the stock’s previous close.

Other analysts have also issued research reports about the company. Royal Bank Of Canada lifted their target price on Loblaw Companies from C$234.00 to C$267.00 in a report on Monday, July 21st. National Bankshares increased their price objective on Loblaw Companies from C$60.00 to C$61.00 and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. BMO Capital Markets upgraded shares of Loblaw Companies to a “hold” rating in a research note on Monday, November 3rd. Scotiabank lifted their price target on shares of Loblaw Companies from C$61.00 to C$65.00 and gave the stock an “outperform” rating in a research note on Thursday, August 21st. Finally, Desjardins boosted their price objective on shares of Loblaw Companies from C$230.00 to C$235.00 and gave the company a “hold” rating in a report on Friday, July 25th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Loblaw Companies currently has a consensus rating of “Moderate Buy” and an average price target of C$134.50.

Loblaw Companies Stock Up 1.9%

Shares of TSE L traded up C$1.11 during midday trading on Thursday, hitting C$59.73. The stock had a trading volume of 782,983 shares, compared to its average volume of 1,481,498. The business’s 50 day moving average is C$55.94 and its 200-day moving average is C$151.08. The company has a market cap of C$71.01 billion, a P/E ratio of 29.61, a PEG ratio of 3.23 and a beta of 0.29. Loblaw Companies has a 52 week low of C$43.32 and a 52 week high of C$59.91. The company has a quick ratio of 0.68, a current ratio of 1.29 and a debt-to-equity ratio of 166.11.

About Loblaw Companies

Loblaw is one of Canada’s largest grocery, pharmacy, and general merchandise retailers, operating the most expansive store footprint in Ontario and maintaining sizable presences in provinces like Quebec and British Columbia. Key grocery banners include Loblaw, No Frills, and Maxi, while its pharmaceutical operations are the product of its 2014 acquisition of Shoppers Drug Mart.