Loblaw Companies (L) Price Target Cut to C$70.00 by Analysts at BMO Capital Markets

Loblaw Companies (TSE:L) had its price target lowered by BMO Capital Markets from C$82.00 to C$70.00 in a research report sent to investors on Wednesday. The brokerage currently has an outperform rating on the stock.

Other equities research analysts have also issued reports about the stock. Raymond James increased their target price on shares of Loblaw Companies from C$82.00 to C$85.00 and gave the stock an outperform rating in a report on Thursday, July 26th. TD Securities upped their price target on Loblaw Companies from C$81.00 to C$82.00 and gave the stock a buy rating in a research note on Thursday, July 26th. Desjardins upped their price target on Loblaw Companies from C$76.00 to C$77.00 in a research note on Thursday, July 26th. National Bank Financial upped their price target on Loblaw Companies from C$72.00 to C$73.00 and gave the stock a sector perform rating in a research note on Wednesday, September 5th. Finally, CIBC upped their price target on Loblaw Companies from C$78.00 to C$81.00 in a research note on Thursday, July 26th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Loblaw Companies has a consensus rating of Buy and an average price target of C$73.80.

Loblaw Companies stock traded down C$0.26 during midday trading on Wednesday, hitting C$56.55. The stock had a trading volume of 465,888 shares, compared to its average volume of 651,375. Loblaw Companies has a 52-week low of C$50.02 and a 52-week high of C$57.66.

In other news, insider Garry Senecal sold 765 shares of the firm’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of C$67.60, for a total transaction of C$51,714.00. Also, Director Michael James Motz sold 5,000 shares of the firm’s stock in a transaction on Friday, August 17th. The shares were sold at an average price of C$69.26, for a total value of C$346,300.00. Insiders sold a total of 47,288 shares of company stock valued at $3,263,792 over the last 90 days.

About Loblaw Companies

Loblaw Companies Limited, a food and pharmacy company, provides grocery, pharmacy, health and beauty, apparel, general merchandise, credit card, insurance brokerage, gift card, and telecommunication services in Canada. It operates through three segments: Retail, Financial Services, and Choice Properties.

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Analyst Recommendations for Loblaw Companies (TSE:L)

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