Empire (EMP.A) Sets New 52-Week High on Analyst Upgrade

Empire Company Limited (TSE:EMP.A) hit a new 52-week high on Thursday after Royal Bank Of Canada raised their price target on the stock from C$23.00 to C$25.00. Royal Bank Of Canada currently has a sector perform rating on the stock. Empire traded as high as C$25.93 and last traded at C$25.71, with a volume of 115299 shares trading hands. The stock had previously closed at C$25.75.

EMP.A has been the subject of a number of other reports. Scotiabank lifted their target price on Empire from C$25.50 to C$27.50 and gave the company an “outperform” rating in a report on Friday, September 15th. Barclays lifted their target price on Empire from C$27.00 to C$28.00 in a report on Friday, September 15th. CIBC lifted their target price on Empire from C$20.00 to C$27.00 and gave the company an “outperform” rating in a report on Friday, September 15th. Eight Capital upgraded Empire from a “neutral” rating to a “buy” rating and lifted their target price for the company from C$21.00 to C$30.00 in a report on Friday, September 15th. Finally, National Bank Financial lifted their target price on Empire from C$24.00 to C$27.00 and gave the company an “outperform” rating in a report on Friday, September 15th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of C$25.55.

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Empire 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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