Loblaw Companies (TSE:L) Price Target Raised to C$70.00 at Desjardins

Loblaw Companies (TSE:LGet Free Report) had its price objective increased by research analysts at Desjardins from C$67.00 to C$70.00 in a research note issued on Thursday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Desjardins’ target price suggests a potential upside of 9.60% from the stock’s previous close.

Other analysts also recently issued reports about the stock. TD Securities increased their price target on shares of Loblaw Companies from C$65.00 to C$75.00 and gave the stock a “buy” rating in a report on Monday. BMO Capital Markets upped their target price on Loblaw Companies from C$63.00 to C$68.00 and gave the stock a “market perform” rating in a research note on Monday. Royal Bank Of Canada increased their target price on Loblaw Companies from C$68.00 to C$72.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. Canadian Imperial Bank of Commerce boosted their price target on shares of Loblaw Companies from C$58.50 to C$67.00 in a report on Thursday, November 13th. Finally, National Bank Financial increased their price objective on shares of Loblaw Companies from C$62.00 to C$66.00 and gave the company an “outperform” rating in a report on Wednesday, January 28th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$92.63.

Get Our Latest Stock Analysis on Loblaw Companies

Loblaw Companies Stock Performance

Shares of TSE:L traded up C$0.07 during trading on Thursday, hitting C$63.87. The stock had a trading volume of 707,905 shares, compared to its average volume of 1,284,487. Loblaw Companies has a 12-month low of C$45.47 and a 12-month high of C$69.59. The stock has a 50-day simple moving average of C$63.75 and a two-hundred day simple moving average of C$67.00. The company has a quick ratio of 0.68, a current ratio of 1.29 and a debt-to-equity ratio of 166.11. The stock has a market capitalization of C$75.44 billion, a price-to-earnings ratio of 31.19, a price-to-earnings-growth ratio of 3.23 and a beta of 0.30.

Loblaw Companies (TSE:LGet Free Report) last posted its quarterly earnings results on Wednesday, February 25th. The company reported C$0.67 EPS for the quarter. Loblaw Companies had a net margin of 3.71% and a return on equity of 19.90%. The company had revenue of C$15.70 billion for the quarter. On average, equities research analysts expect that Loblaw Companies will post 9.1225541 earnings per share for the current fiscal year.

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About Loblaw Companies

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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.

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