Analysts have been quite happy with Loblaw Companies Ltd (L) stock lately, with another positive rating update this time from CIBC. Analyst Mark Petrie rated Loblaw Companies Ltd (L) a Buy today, setting a C$69 price target.
According to TipRanks.com, Petrie is a 5-star analyst with an average return of 14.2% and a 61.2% success rate. Petrie covers the Services sector, focusing on stocks such as Restaurant Brands International, Loblaw Companies Limited, and Dollarama Inc.
Currently, the analyst consensus on Loblaw Companies Ltd is a Moderate Buy with an average price target of C$67, a 16.3% upside from current levels. In a report issued on November 2, RBC Capital also maintained a Buy rating on the stock with a C$73 price target.
Loblaw Companies Ltd’s market cap is currently C$21.28B and has a P/E ratio of 11.1. The company has a Price to Book ratio of 1.74.
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$57.62.