Desjardins Increases Loblaw Companies (TSE:L) Price Target to C$70.00

Loblaw Companies (TSE:L) had its price target hoisted by investment analysts at Desjardins from C$67.00 to C$70.00 in a note issued to investors on Thursday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Desjardins’ price objective indicates a potential upside of 10.72% from the stock’s current price.

A number of other brokerages also recently issued reports on L. Canadian Imperial Bank of Commerce lifted their price target on Loblaw Companies from C$58.50 to C$67.00 in a research report on Thursday, November 13th. BMO Capital Markets raised their target price on shares of Loblaw Companies from C$63.00 to C$68.00 and gave the company a “market perform” rating in a research note on Monday, February 23rd. TD Securities lifted their target price on shares of Loblaw Companies from C$65.00 to C$75.00 and gave the company a “buy” rating in a research report on Monday, February 23rd. National Bank Financial boosted their price target on shares of Loblaw Companies from C$62.00 to C$66.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 28th. Finally, Royal Bank Of Canada increased their price target on shares of Loblaw Companies from C$68.00 to C$72.00 and gave the stock an “outperform” rating in a report on Friday, January 23rd. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$92.63.

Loblaw Companies Trading Down 1.4%

Loblaw Companies stock opened at C$63.22 on Thursday. The stock has a market cap of C$74.67 billion, a P/E ratio of 30.88, a PEG ratio of 3.23 and a beta of 0.30. Loblaw Companies has a fifty-two week low of C$45.47 and a fifty-two week high of C$69.59. The firm’s fifty day moving average price is C$63.81 and its 200-day moving average price is C$65.83. The company has a debt-to-equity ratio of 166.11, a quick ratio of 0.68 and a current ratio of 1.29.

Loblaw Companies (TSE:L) last posted its quarterly earnings data on Wednesday, February 25th. The company reported C$0.67 earnings per share (EPS) for the quarter. Loblaw Companies had a return on equity of 19.90% and a net margin of 3.71%.The company had revenue of C$15.70 billion during the quarter. Equities research analysts forecast that Loblaw Companies will post 9.1225541 earnings per share for the current fiscal year.

Loblaw Companies Company Profile

Loblaw is one of Canada’s largest grocery, pharmacy, and general merchandise retailers, operating the most expansive store footprint in Ontario and maintaining sizable presences in provinces like Quebec and British Columbia. Key grocery banners include Loblaw, No Frills, and Maxi, while its pharmaceutical operations are the product of its 2014 acquisition of Shoppers Drug Mart. The firm carries a robust private-label assortment, with top sellers like President’s Choice and No Name. In addition to its retail operations, Loblaw oversees a financial-services business, which provides credit card services and guaranteed investment certificates, and also operates its PC Optimum loyalty program.