Brokerages Set Loblaw Companies Ltd (L) Price Target at $78.44

Loblaw Companies Ltd (TSE:L) has earned an average recommendation of “Buy” from the nine research firms that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is C$75.78.

Several brokerages have recently commented on L. Barclays lifted their target price on Loblaw Companies from C$71.00 to C$75.00 and gave the stock a “c$69.40” rating in a research report on Monday, July 23rd. Raymond James lifted their target price on Loblaw Companies from C$82.00 to C$85.00 and gave the stock an “outperform” rating in a research report on Thursday, July 26th. National Bank Financial lifted their target price on Loblaw Companies from C$71.00 to C$72.00 and gave the stock a “reduce” rating in a research report on Thursday, July 26th. CIBC lifted their target price on Loblaw Companies from C$78.00 to C$81.00 in a research report on Thursday, July 26th. Finally, TD Securities lifted their target price on Loblaw Companies from C$81.00 to C$82.00 and gave the stock a “buy” rating in a research report on Thursday, July 26th.

L stock opened at C$52.10 on Thursday. Loblaw Companies has a 52-week low of C$51.90 and a 52-week high of C$70.39.

In other news, insider Garry Senecal sold 765 shares of the business’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of C$67.60, for a total value of C$51,714.00. Also, insider Kieran Barry Columb sold 21,523 shares of the business’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of C$69.06, for a total value of C$1,486,378.38. Insiders have sold a total of 47,288 shares of company stock valued at $3,263,792 in the last quarter.

About Loblaw Companies

Loblaw Companies Limited, a food and pharmacy company, provides grocery, pharmacy, health and beauty, apparel, general merchandise, credit card, insurance brokerage, gift card, and telecommunication services in Canada. It operates through three segments: Retail, Financial Services, and Choice Properties.

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Analyst Recommendations for Loblaw Companies (TSE:L)

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