Loblaw Companies (TSE:L) Stock Price Expected to Rise, CIBC Analyst Says

Loblaw Companies (TSE:L) had its price objective boosted by CIBC from C$189.00 to C$206.00 in a research note issued on Thursday,BayStreet.CA reports. CIBC’s price target suggests a potential upside of 14.09% from the stock’s previous close.

A number of other research analysts have also weighed in on L. Royal Bank of Canada raised their price target on shares of Loblaw Companies from C$183.00 to C$205.00 in a research note on Tuesday. TD Securities lowered their target price on Loblaw Companies from C$203.00 to C$202.00 and set a “buy” rating on the stock in a report on Thursday. BMO Capital Markets increased their price target on Loblaw Companies from C$160.00 to C$180.00 in a report on Friday, July 26th. National Bankshares upped their target price on Loblaw Companies from C$188.00 to C$195.00 in a report on Thursday. Finally, Desjardins lifted their price target on Loblaw Companies from C$172.00 to C$190.00 in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$191.29.

Loblaw Companies Stock Performance

TSE L traded down C$2.32 on Thursday, hitting C$180.56. 174,089 shares of the company’s stock traded hands, compared to its average volume of 355,069. The firm’s 50-day moving average price is C$177.46 and its two-hundred day moving average price is C$167.82. The company has a current ratio of 1.36, a quick ratio of 0.68 and a debt-to-equity ratio of 163.32. The firm has a market capitalization of C$55.14 billion, a PE ratio of 27.36, a P/E/G ratio of 3.23 and a beta of 0.17. Loblaw Companies has a 1-year low of C$116.81 and a 1-year high of C$188.77.

About Loblaw Companies

Loblaw Companies Limited, a food and pharmacy company, provides grocery, pharmacy and healthcare services, health and beauty products, apparels, general merchandise, financial services, and wireless mobile products and services in Canada. It operates in two segments, Retail and Financial Services. The Retail segment operates corporate and franchise-owned retail food, and associate-owned drug stores.