Empire (OTCMKTS:EMLAF – Get Rating) had its price objective reduced by BMO Capital Markets from C$44.00 to C$42.00 in a note issued to investors on Thursday, The Fly reports. The brokerage currently has a “market perform” rating on the stock.
Other equities analysts have also recently issued research reports about the stock. Scotiabank lifted their price objective on shares of Empire from C$50.00 to C$52.00 and gave the stock an “outperform” rating in a research note on Thursday. Royal Bank of Canada lifted their target price on shares of Empire from C$46.00 to C$48.00 in a research report on Friday, March 11th. TD Securities dropped their target price on shares of Empire from C$50.00 to C$45.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, National Bank Financial dropped their target price on shares of Empire from C$48.00 to C$42.00 in a research report on Thursday. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $46.14.
Shares of EMLAF traded down $2.17 during mid-day trading on Thursday, hitting $28.86. The company’s stock had a trading volume of 422 shares, compared to its average volume of 1,791. The firm has a 50-day moving average price of $32.91 and a 200 day moving average price of $32.15. Empire has a fifty-two week low of $28.63 and a fifty-two week high of $36.37.
Empire Company Limited, together with its subsidiaries, engages in the food retail and related real estate businesses in Canada. It operates through two segments, Food Retailing, and Investments and Other Operations. The company owns, affiliates, and franchises approximately 1,500 retail stores under various retail banners, including Sobeys, Safeway, IGA, Foodland, FreshCo, Thrifty Foods, Farm Boy, Longo's, and Lawtons Drugs; and approximately 350 retail fuel locations, as well as operates grocery e-commerce stores under the banners, such as Voilà by Sobeys, Grocery Gateway, IGA.net, and ThriftyFoods.com.
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