BMO Capital Markets Boosts Loblaw Companies (TSE:L) Price Target to C$63.00

Loblaw Companies (TSE:L) had its price target upped by BMO Capital Markets from C$57.50 to C$63.00 in a report issued on Thursday,BayStreet.CA reports. BMO Capital Markets’ price objective indicates a potential upside of 5.47% from the stock’s previous close.

Several other research analysts have also recently weighed in on L. Desjardins boosted their price target on Loblaw Companies from C$230.00 to C$235.00 and gave the stock a “hold” rating in a research note on Friday, July 25th. National Bankshares lifted their target price on shares of Loblaw Companies from C$60.00 to C$61.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. TD Securities boosted their target price on shares of Loblaw Companies from C$63.00 to C$65.00 in a research note on Thursday. Royal Bank Of Canada raised their price target on Loblaw Companies from C$234.00 to C$267.00 in a research note on Monday, July 21st. Finally, Scotiabank lifted their price objective on Loblaw Companies from C$61.00 to C$65.00 and gave the stock an “outperform” rating in a report on Thursday, August 21st. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$134.50.

Loblaw Companies Stock Up 1.9%

TSE L traded up C$1.11 during mid-day trading on Thursday, reaching C$59.73. The stock had a trading volume of 782,983 shares, compared to its average volume of 1,481,498. The stock has a market cap of C$71.01 billion, a PE ratio of 29.61, a price-to-earnings-growth ratio of 3.23 and a beta of 0.29. Loblaw Companies has a 1 year low of C$43.32 and a 1 year high of C$59.91. 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 company has a fifty day moving average price of C$55.94 and a 200 day moving average price of C$151.08.

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.