Loblaw Companies (TSE:L) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Loblaw Companies (TSE:L) had its target price lifted by BMO Capital Markets from C$63.00 to C$68.00 in a research note issued on Monday,BayStreet.CA reports. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ target price indicates a potential downside of 1.18% from the stock’s previous close.

A number of other research firms also recently issued reports on L. Desjardins upgraded Loblaw Companies from a “hold” rating to a “buy” rating and increased their price objective for the stock from C$62.00 to C$67.00 in a report on Thursday, December 4th. Canadian Imperial Bank of Commerce increased their price target on shares of Loblaw Companies from C$58.50 to C$67.00 in a research note on Thursday, November 13th. National Bank Financial boosted their price objective on shares of Loblaw Companies from C$62.00 to C$66.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 28th. Royal Bank Of Canada raised their target price on shares of Loblaw Companies from C$68.00 to C$72.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. Finally, TD Securities upped their price target on Loblaw Companies from C$63.00 to C$65.00 in a research note on Thursday, November 13th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$91.63.

Loblaw Companies Stock Up 2.3%

Shares of L stock traded up C$1.55 during midday trading on Monday, reaching C$68.81. 543,326 shares of the stock were exchanged, compared to its average volume of 1,224,283. Loblaw Companies has a 1 year low of C$43.78 and a 1 year high of C$69.04. The firm has a market cap of C$81.28 billion, a PE ratio of 33.61, a price-to-earnings-growth ratio of 3.23 and a beta of 0.30. The company’s 50 day moving average is C$63.44 and its two-hundred day moving average is C$69.27. The company has a current ratio of 1.29, a quick ratio of 0.68 and a debt-to-equity ratio of 166.11.

Loblaw Companies Company Profile

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. The firm carries a robust private-label assortment, with top sellers like President’s Choice and No Name. In addition to its retail operations, Loblaw oversees a financial-services business, which provides credit card services and guaranteed investment certificates, and also operates its PC Optimum loyalty program.