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Loblaw Companies Ltd (L) Receives a Buy from Desjardins


Loblaw Companies Ltd (L), the Services sector company, was revisited by a Wall Street analyst yesterday. Analyst Keith Howlett from Desjardins rated Loblaw Companies Ltd (L) a Buy, setting a C$62 price target.

According to TipRanks.com, Howlett is a 3-star analyst with an average return of 2.5% and a 56.2% success rate. Howlett covers the Services sector, focusing on stocks such as Loblaw Companies Limited, Canadian Tire Corp Ltd, and Dollarama Inc.

Currently, the analyst consensus on Loblaw Companies Ltd is a Moderate Buy with an average price target of C$67, a 14.9% 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.

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The company has a one-year high of C$70.39 and a one-year low of C$51.90. Currently, Loblaw Companies Ltd has an average volume of 560K.

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$58.33.