Shares of Loblaw Companies Ltd (L) were revisited by a Wall Street analyst yesterday. Analyst Peter Sklar from BMO Capital remains bullish on the stock and has a C$83 price target.
According to TipRanks.com, Sklar is a 4-star analyst with an average return of 5.9% and a 56.8% success rate. Sklar covers the Services sector, focusing on stocks such as Restaurant Brands International, Loblaw Companies Limited, and Canadian Tire Corp Ltd.
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Currently, the analyst consensus on Loblaw Companies Ltd is a Moderate Buy with an average price target of C$73.80, a 12.7% upside from current levels. In a report issued on February 14, Raymond James also maintained a Buy rating on the stock with a C$66 price target.
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Based on Loblaw Companies Ltd’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of C$14.45 billion and net profit of C$109 million. In comparison, last year the company earned revenue of C$11.03 billion and had a net profit of C$22 million.
Loblaw Cos. Ltd. is a food retailer, which engages in the provision of drugstore, general merchandise, and financial products and services. It operates through the following business segments: Retail, Financial Services, and Choice Properties.
The company’s shares closed on Thursday at C$65.50.
