Analysts seem to be optimistic about Loblaw Companies Ltd (L) lately, with several positive ratings in a row that it received in the past month alone. Raymond James’ analyst Kenric Tyghe reiterates their Buy rating on the shares, with a C$76 price target.
According to TipRanks.com, Tyghe is a 4-star analyst with an average return of 5.4% and a 60.6% success rate. Tyghe covers the Services sector, focusing on stocks such as Loblaw Companies Limited, Dollarama Inc, and Cineplex.
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Loblaw Companies Ltd has an analyst consensus of Moderate Buy, with a price target consensus of C$74, representing a 13.3% upside. In a report released today, Desjardins also upgraded the stock to Buy with a C$70 price target.
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Based on Loblaw Companies Ltd’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of C$11.22 billion and net profit of C$224 million. In comparison, last year the company earned revenue of C$10.37 billion and had a net profit of C$380 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 and Financial Services.
The company’s shares closed on Thursday at C$65.34.
