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

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

Several other brokerages also recently commented on L. National Bank Financial increased their price objective on Loblaw Companies from C$62.00 to C$66.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 28th. Royal Bank Of Canada upped their target price on Loblaw Companies from C$68.00 to C$72.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. BMO Capital Markets lifted their price target on Loblaw Companies from C$63.00 to C$68.00 and gave the stock a “market perform” rating in a report on Monday. TD Securities lifted their target price on Loblaw Companies from C$65.00 to C$75.00 and gave the stock a “buy” rating in a research note on Monday. Finally, 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. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Loblaw Companies currently has a consensus rating of “Moderate Buy” and a consensus target price of C$92.63.

Check Out Our Latest Analysis on L

Loblaw Companies Stock Up 0.1%

TSE:L traded up C$0.07 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. The company has a quick ratio of 0.68, a current ratio of 1.29 and a debt-to-equity ratio of 166.11. Loblaw Companies has a 52 week low of C$45.47 and a 52 week high of C$69.59. The business’s fifty day moving average is C$63.75 and its 200 day moving average is C$67.00. The company has a market cap of C$75.44 billion, a PE ratio of 31.19, a P/E/G ratio of 3.23 and a beta of 0.30.

Loblaw Companies (TSE:LGet Free Report) last issued its earnings results on Wednesday, February 25th. The company reported C$0.67 earnings per share for the quarter. Loblaw Companies had a return on equity of 19.90% and a net margin of 3.71%.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 EPS for the current fiscal year.

Loblaw Companies News Summary

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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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Analyst Recommendations for Loblaw Companies (TSE:L)

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