Shares of Loblaw Companies Ltd (L) were revisited by a Wall Street analyst today. Desjardins’ analyst Keith Howlett downgraded L to Hold , with a C$70 price target.
According to TipRanks.com, Howlett is a 3-star analyst with an average return of 3.1% and a 60.8% success rate. Howlett covers the Services sector, focusing on stocks such as Loblaw Companies Limited, Canadian Tire Corp Ltd, and Dollarama Inc.
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Loblaw Companies Ltd has an analyst consensus of Moderate Buy, with a price target consensus of C$73.57, representing a 12.9% upside. In a report issued on February 20, Barclays also maintained a Hold rating on the stock with a C$72 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 Friday at C$65.18.
