Loblaw Companies (TSE:L) Raised to “Buy” at Desjardins

Loblaw Companies (TSE:L) was upgraded by analysts at Desjardins from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm currently has a C$67.00 price target on the stock, up from their prior price target of C$62.00. Desjardins’ price objective would suggest a potential upside of 7.80% from the stock’s current price.

Several other brokerages also recently issued reports on L. CIBC raised their price objective on shares of Loblaw Companies from C$58.50 to C$67.00 in a research note on Thursday, November 13th. National Bankshares boosted their price objective on shares of Loblaw Companies from C$60.00 to C$61.00 and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. BMO Capital Markets raised their target price on shares of Loblaw Companies from C$57.50 to C$63.00 in a research report on Thursday, November 13th. TD Securities lifted their price target on shares of Loblaw Companies from C$63.00 to C$65.00 in a research note on Thursday, November 13th. Finally, Scotiabank boosted their price target on Loblaw Companies from C$61.00 to C$65.00 and gave the company an “outperform” rating in a report on Thursday, August 21st. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$113.50.

Loblaw Companies Trading Up 2.2%

L stock traded up C$1.31 during mid-day trading on Thursday, reaching C$62.15. 872,690 shares of the stock traded hands, compared to its average volume of 1,496,332. Loblaw Companies has a one year low of C$43.32 and a one year high of C$63.43. The stock has a market capitalization of C$73.41 billion, a PE ratio of 30.35, a PEG ratio of 3.23 and a beta of 0.29. The company has a debt-to-equity ratio of 166.11, a quick ratio of 0.68 and a current ratio of 1.29. The business has a 50-day moving average price of C$57.87 and a two-hundred day moving average price of C$134.41.

Loblaw Companies Company Profile

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.