CIBC Cuts Hudson's Bay Co (HBC) Price Target to C$12.50

Hudson's Bay Co (TSE:HBC) had its price target decreased by research analysts at CIBC from C$18.00 to C$12.50 in a note issued to investors on Wednesday. CIBC’s price target suggests a potential upside of 23.03% from the stock’s current price.

HBC has been the subject of a number of other reports. TD Securities restated a “buy” rating and issued a C$27.00 target price on shares of Hudson's Bay Co in a report on Wednesday, November 30th. Scotiabank downgraded shares of Hudson's Bay Co from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from C$18.00 to C$14.50 in a report on Tuesday. National Bank Financial decreased their price objective on shares of Hudson's Bay Co from C$17.00 to C$15.00 and set a “sector perform” rating for the company in a research note on Tuesday. Royal Bank Of Canada reiterated an “outperform” rating and set a C$18.00 price objective (down from C$21.00) on shares of Hudson's Bay Co in a research note on Wednesday, December 7th. Finally, Cowen and Company decreased their price objective on shares of Hudson's Bay Co from C$20.00 to C$19.00 and set an “outperform” rating for the company in a research note on Monday, December 5th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Hudson's Bay Co currently has a consensus rating of “Hold” and a consensus target price of C$14.86.

Analyst Recommendations for Hudson's Bay Co (TSE:HBC)

Hudson's Bay Co (TSE:HBC) traded down 6.79% during midday trading on Wednesday, reaching $9.47. 1,376,108 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $13.74 and its 200 day moving average is $15.96. The firm’s market capitalization is $1.73 billion. Hudson's Bay Co has a 52 week low of $9.26 and a 52 week high of $19.69.

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In other news, insider David Schwartz purchased 4,000 shares of the stock in a transaction dated Thursday, December 8th. The stock was acquired at an average price of C$10.18 per share, for a total transaction of C$40,720.00.

Hudson's Bay Co Company Profile

Hudson’s Bay Company (HBC) is a Canada-based department store retailer. The Company is an operator and a consolidator, as well as a real estate developer. The Company’s retail portfolio includes approximately 10 banners, in formats ranging from luxury to better department stores to off price fashion shopping destinations, with over 460 stores.

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