CIBC Raises Loblaw Companies (TSE:L) Price Target to C$206.00

Loblaw Companies (TSE:L) had its target price hoisted by investment analysts at CIBC from C$189.00 to C$206.00 in a note issued to investors on Thursday,BayStreet.CA reports. CIBC’s target price indicates a potential upside of 13.50% from the stock’s current price.

A number of other brokerages also recently commented on L. BMO Capital Markets increased their price objective on Loblaw Companies from C$160.00 to C$180.00 in a research report on Friday, July 26th. Royal Bank of Canada upped their target price on Loblaw Companies from C$183.00 to C$205.00 in a report on Tuesday. Desjardins lifted their price target on Loblaw Companies from C$172.00 to C$190.00 in a research note on Thursday. TD Securities reduced their price objective on shares of Loblaw Companies from C$203.00 to C$202.00 and set a “buy” rating for the company in a research note on Thursday. Finally, National Bankshares lifted their target price on shares of Loblaw Companies from C$188.00 to C$195.00 in a research report on Thursday. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of C$191.29.

Loblaw Companies Stock Performance

Shares of L opened at C$181.49 on Thursday. The company has a debt-to-equity ratio of 163.32, a current ratio of 1.36 and a quick ratio of 0.68. The firm’s 50 day moving average is C$177.55 and its 200-day moving average is C$167.91. Loblaw Companies has a 12-month low of C$116.81 and a 12-month high of C$188.77. The stock has a market capitalization of C$55.43 billion, a P/E ratio of 27.26, a P/E/G ratio of 3.23 and a beta of 0.17.

About Loblaw Companies

Loblaw Companies Limited, a food and pharmacy company, provides grocery, pharmacy and healthcare services, health and beauty products, apparels, general merchandise, financial services, and wireless mobile products and services in Canada. It operates in two segments, Retail and Financial Services. The Retail segment operates corporate and franchise-owned retail food, and associate-owned drug stores.