Empire (TSE:EMP.A) was downgraded by research analysts at Desjardins from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday. They currently have a C$30.50 price objective on the stock, down from their prior price objective of C$32.00. Desjardins’ price target would suggest a potential upside of 6.05% from the company’s current price.

Several other equities analysts have also recently issued reports on EMP.A. Raymond James reissued a “market perform” rating and issued a C$31.00 price objective on shares of Empire in a research note on Friday, December 14th. Barclays boosted their target price on shares of Empire from C$31.00 to C$32.00 in a research report on Friday, December 14th. BMO Capital Markets boosted their target price on shares of Empire from C$30.00 to C$32.00 and gave the stock an “outperform” rating in a research report on Friday, December 14th. Royal Bank of Canada boosted their target price on shares of Empire from C$29.00 to C$30.00 in a research report on Friday, December 14th. Finally, National Bank Financial boosted their target price on shares of Empire from C$30.00 to C$33.00 and gave the stock an “outperform” rating in a research report on Friday, December 14th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of C$31.72.

Shares of EMP.A opened at C$28.76 on Tuesday. The company has a debt-to-equity ratio of 41.48, a quick ratio of 0.47 and a current ratio of 1.12. The firm has a market capitalization of $4.93 billion and a price-to-earnings ratio of 23.79. Empire has a 1 year low of C$17.43 and a 1 year high of C$26.34.

Empire Company Profile

Empire Company Limited, together with its subsidiaries, engages in the food retail and related real estate businesses in Canada. It operates through two segments, Food Retailing, and Investments and Other Operations. The company owns, affiliates, and franchises approximately 1,500 retail stores under various retail banners, including Sobeys, Safeway, IGA, Foodland, FreshCo, Thrifty Foods, and Lawtons Drugs; and approximately 350 retail fuel locations.

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Analyst Recommendations for Empire (TSE:EMP.A)

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