Scotiabank Issues Positive Forecast for Metro (TSE:MRU) Stock Price

Metro (TSE:MRU) had its price objective boosted by equities research analysts at Scotiabank from C$108.00 to C$110.00 in a research note issued on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Scotiabank’s price objective points to a potential upside of 10.21% from the stock’s current price.

MRU has been the subject of several other reports. BMO Capital Markets decreased their target price on Metro from C$115.00 to C$110.00 in a research report on Monday, November 3rd. TD Securities upped their target price on shares of Metro from C$112.00 to C$118.00 and gave the stock a “buy” rating in a research report on Thursday, July 31st. Finally, National Bankshares dropped their price target on Metro from C$110.00 to C$107.00 and set a “sector perform” rating for the company in a research note on Wednesday, October 15th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of C$109.13.

Metro Trading Up 1.1%

Shares of MRU traded up C$1.04 during trading hours on Thursday, hitting C$99.81. 183,240 shares of the stock traded hands, compared to its average volume of 505,642. The firm has a market capitalization of C$21.71 billion, a PE ratio of 21.65, a price-to-earnings-growth ratio of 4.06 and a beta of 0.20. The business has a fifty day moving average of C$94.42 and a 200-day moving average of C$100.46. The company has a current ratio of 1.35, a quick ratio of 0.41 and a debt-to-equity ratio of 62.29. Metro has a 1-year low of C$87.50 and a 1-year high of C$109.20.

About Metro

Metro is one of the largest grocery retailers in Canada. With its 2018 acquisition of Jean Coutu, it also boasts a meaningful drugstore footprint. Noteworthy grocery banners include Metro, Metro Plus, Super C, and Food Basics, while its pharmacies primarily operate under the Jean Coutu and Brunet trademarks.