Empire Company Limited (EMP.A) Stock Rating Upgraded by Eight Capital
Empire Company Limited (TSE:EMP.A) was upgraded by analysts at Eight Capital from a “neutral” rating to a “buy” rating in a research note issued on Friday. The firm presently has a C$30.00 price objective on the stock, up from their prior price objective of C$21.00.
Several other brokerages have also recently issued reports on EMP.A. National Bank Financial upped their price objective on Empire Company Limited from C$24.00 to C$27.00 and gave the company an “outperform” rating in a research note on Friday. TD Securities upped their price objective on Empire Company Limited from C$20.00 to C$25.00 and gave the company a “hold” rating in a research note on Friday. Raymond James Financial, Inc. upped their price objective on Empire Company Limited from C$22.00 to C$24.00 and gave the company a “market perform” rating in a research note on Friday. Royal Bank Of Canada upgraded Empire Company Limited from an “underperform” rating to a “sector perform” rating and upped their price objective for the company from C$21.00 to C$23.00 in a research note on Friday. Finally, BMO Capital Markets upgraded Empire Company Limited from a “market perform” rating to an “outperform” rating and upped their price objective for the company from C$19.00 to C$25.00 in a research note on Friday, June 30th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of C$25.35.
About Empire Company Limited
Empire Company Limited is engaged in the business of food retailing and related real estate. The Company’s segments include Food Retailing, and Investments and Other Operations. The Food Retailing segment consists of its subsidiary, Sobeys Inc, which owns, affiliates or franchises over 1,500 stores in approximately 10 provinces under retail banners that include Sobeys, Safeway, IGA, Foodland, FreshCo, Thrifty Foods, and Lawton’s Drug Stores, as well as more than 350 retail fuel locations.
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