Scotiabank Increases Empire (TSE:EMP.A) Price Target to C$32.00

Empire (TSE:EMP.A) had its price objective raised by Scotiabank from C$30.00 to C$32.00 in a research note published on Thursday, March 15th. The brokerage currently has an outperform rating on the stock.

EMP.A has been the subject of a number of other reports. Royal Bank of Canada raised their price target on Empire from C$23.00 to C$25.00 and gave the stock a sector perform rating in a report on Thursday, December 7th. CIBC lowered Empire from an outperform rating to a neutral rating in a report on Thursday, December 14th. National Bank Financial raised their price target on Empire from C$28.00 to C$29.00 in a report on Thursday, December 14th. BMO Capital Markets increased their price objective on Empire from C$28.00 to C$30.00 and gave the stock an outperform rating in a research report on Thursday, December 14th. Finally, TD Securities increased their price objective on Empire from C$25.00 to C$26.00 in a research report on Friday, December 15th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Empire currently has a consensus rating of Buy and an average target price of C$28.44.

Shares of TSE EMP.A opened at C$24.45 on Thursday. Empire has a 1-year low of C$17.43 and a 1-year high of C$26.34.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Monday, April 30th will be given a $0.105 dividend. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 1.72%.

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About Empire

Empire Company Limited is engaged in the business of food retailing and related real estate. The Company’s segments include Food Retailing, and Investments and Other Operations. The Food Retailing segment consists of its subsidiary, Sobeys Inc, which owns, affiliates or franchises over 1,500 stores in approximately 10 provinces under retail banners that include Sobeys, Safeway, IGA, Foodland, FreshCo, Thrifty Foods, and Lawton’s Drug Stores, as well as more than 350 retail fuel locations.

Analyst Recommendations for Empire (TSE:EMP.A)

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