Hudson's Bay Co (HBC) Price Target Cut to C$23.00
Hudson's Bay Co (TSE:HBC) had its price objective lowered by equities researchers at Scotiabank from C$26.00 to C$23.00 in a research report issued to clients and investors on Monday. The firm presently has an “outperform” rating on the stock. Scotiabank’s target price suggests a potential upside of 54.26% from the company’s previous close.
A number of other analysts have also recently issued reports on HBC. TD Securities restated a “buy” rating and set a C$30.00 target price on shares of Hudson's Bay Co in a research note on Wednesday, September 7th. National Bank Financial raised their target price on shares of Hudson's Bay Co from C$18.00 to C$18.50 in a research note on Thursday, September 8th. CIBC cut shares of Hudson's Bay Co from an “outperform” rating to a “sector perform” rating in a research note on Thursday, September 8th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a C$23.00 target price on shares of Hudson's Bay Co in a research note on Wednesday, September 7th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Hudson's Bay Co presently has an average rating of “Buy” and a consensus target price of C$24.61.
Shares of Hudson's Bay Co (TSE:HBC) opened at 14.91 on Monday. Hudson's Bay Co has a 52 week low of $14.40 and a 52 week high of $22.47. The firm’s 50-day moving average is $16.57 and its 200 day moving average is $16.37. The company has a market capitalization of $2.72 billion and a PE ratio of 26.86.
About Hudson's Bay Co
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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