Loblaw Companies Limited (L) Rating Reiterated by Scotiabank
Loblaw Companies Limited (TSE:L)‘s stock had its “sector perform” rating restated by equities researchers at Scotiabank in a research report issued to clients and investors on Thursday. They presently have a C$77.00 target price on the stock. Scotiabank’s price target points to a potential upside of 12.44% from the stock’s current price.
A number of other analysts also recently commented on L. TD Securities raised their price objective on Loblaw Companies Limited from C$84.00 to C$85.00 and gave the stock a “buy” rating in a research report on Monday, November 14th. Barclays PLC raised their price objective on Loblaw Companies Limited from C$78.00 to C$80.00 in a research report on Thursday, July 28th. National Bank Financial raised their price objective on Loblaw Companies Limited from C$74.00 to C$77.00 in a research report on Thursday, July 28th. Dundee Securities reiterated a “neutral” rating and issued a C$76.00 price objective on shares of Loblaw Companies Limited in a research report on Thursday, September 22nd. Finally, RBC Capital Markets raised their price objective on Loblaw Companies Limited from C$78.00 to C$80.00 in a research report on Thursday, July 28th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Loblaw Companies Limited has an average rating of “Buy” and a consensus price target of C$79.09.
Loblaw Companies Limited (TSE:L) opened at 68.48 on Thursday. Loblaw Companies Limited has a 52 week low of $61.25 and a 52 week high of $74.59. The company has a market capitalization of $27.69 billion and a P/E ratio of 43.65. The company’s 50-day moving average price is $66.05 and its 200-day moving average price is $69.41.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Thursday, December 15th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.52%.
About Loblaw Companies Limited
Loblaw Companies Limited (Loblaw) is a Canada-based holding company. The Company, through its subsidiaries, provides grocery, pharmacy, health and beauty, apparel, general merchandise, and financial products and services. The Company operates through three segments: Retail, Financial Services and Choice Properties.
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