Loblaw Companies (TSE:L) Price Target Raised to C$67.00

Loblaw Companies (TSE:L) had its price target lifted by stock analysts at CIBC from C$58.50 to C$67.00 in a report issued on Thursday,BayStreet.CA reports. CIBC’s price objective indicates a potential upside of 12.17% from the company’s current price.

Several other equities analysts have also recently commented on the company. BMO Capital Markets raised Loblaw Companies to a “hold” rating in a report on Monday, November 3rd. Royal Bank Of Canada boosted their price objective on Loblaw Companies from C$234.00 to C$267.00 in a research report on Monday, July 21st. Scotiabank upped their target price on Loblaw Companies from C$61.00 to C$65.00 and gave the company an “outperform” rating in a research note on Thursday, August 21st. Desjardins lifted their price target on shares of Loblaw Companies from C$230.00 to C$235.00 and gave the stock a “hold” rating in a research note on Friday, July 25th. Finally, National Bankshares boosted their price target on shares of Loblaw Companies from C$60.00 to C$61.00 and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$134.50.

Loblaw Companies Stock Performance

Shares of L traded up C$1.11 during trading hours on Thursday, reaching C$59.73. 782,983 shares of the company traded hands, compared to its average volume of 1,481,498. The company has a debt-to-equity ratio of 166.11, a quick ratio of 0.68 and a current ratio of 1.29. The stock’s fifty day moving average is C$55.94 and its 200 day moving average is C$151.08. Loblaw Companies has a 1-year low of C$43.32 and a 1-year high of C$59.91. The stock has a market cap of C$71.01 billion, a P/E ratio of 29.61, a price-to-earnings-growth ratio of 3.23 and a beta of 0.29.

About Loblaw Companies

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.