Loblaw Companies (TSE:L) Stock Price Expected to Rise, CIBC Analyst Says

Loblaw Companies (TSE:L) had its price objective lifted by equities researchers at CIBC from C$58.50 to C$67.00 in a research report issued on Thursday,BayStreet.CA reports. CIBC’s target price points to a potential upside of 12.17% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on L. Royal Bank Of Canada raised their price objective on shares of Loblaw Companies from C$234.00 to C$267.00 in a research report on Monday, July 21st. Desjardins raised their price target on shares of Loblaw Companies from C$230.00 to C$235.00 and gave the company a “hold” rating in a report on Friday, July 25th. Scotiabank boosted their price objective on shares of Loblaw Companies from C$61.00 to C$65.00 and gave the stock an “outperform” rating in a research report on Thursday, August 21st. BMO Capital Markets upgraded Loblaw Companies to a “hold” rating in a research report on Monday, November 3rd. Finally, TD Securities boosted their target price on Loblaw Companies from C$63.00 to C$65.00 in a research report on Thursday. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Loblaw Companies currently has an average rating of “Moderate Buy” and an average target price of C$134.50.

Loblaw Companies Price Performance

Shares of L stock traded up C$1.11 during trading hours on Thursday, hitting C$59.73. 782,983 shares of the company’s stock were exchanged, compared to its average volume of 1,481,498. Loblaw Companies has a 52 week low of C$43.32 and a 52 week high of C$59.91. The stock has a market cap of C$71.01 billion, a price-to-earnings ratio of 29.61, a price-to-earnings-growth ratio of 3.23 and a beta of 0.29. The company has a debt-to-equity ratio of 166.11, a current ratio of 1.29 and a quick ratio of 0.68. The stock’s 50-day moving average is C$55.94 and its 200-day moving average is C$151.08.

About Loblaw Companies

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.