In a new note to investors on February 22, an analyst has provided a rating update for the Services sector company, Loblaw Companies Ltd (L). On February 22, analyst Jim Durran gave a Hold rating to L and set a C$71 price target.
According to TipRanks.com, Durran is a 5-star analyst with an average return of 17.8% and a 72.3% success rate. Durran covers the Services sector, focusing on stocks such as Loblaw Companies Limited, Canadian Tire Corp Ltd, and Dollarama Inc.
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Currently, the analyst consensus on Loblaw Companies Ltd is a Moderate Buy with an average price target of C$73.38, which is a 14.5% upside from current levels. In a report issued on February 22, Desjardins also downgraded the stock to Hold with a C$70 price target.
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Loblaw Companies Ltd’s market cap is currently C$24.03B and has a P/E ratio of 45.9. The company has a Price to Book ratio of 1.95.
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 Friday at C$64.09.
