The Services sector company, Loblaw Companies Ltd (L), has received a rating update from a Wall Street analyst yesterday. Analyst Patricia Baker from Scotiabank reiterated a Hold rating, with a C$68 price target.
According to TipRanks.com, Baker is a 4-star analyst with an average return of 3.6% and a 56.0% success rate. Baker covers the Services sector, focusing on stocks such as Walgreens Boots Alliance, Loblaw Companies Limited, and Dollarama Inc.
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The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Loblaw Companies Ltd with a C$72.88 average price target, implying a 13.7% upside from current levels. In a report released yesterday, 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$24.56B 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.
