Loblaw Companies (L) Given New C$73.00 Price Target at Royal Bank of Canada

Loblaw Companies (TSE:L) had its price target cut by stock analysts at Royal Bank of Canada from C$84.00 to C$73.00 in a research note issued on Friday. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 40.12% from the company’s previous close.

Several other equities research analysts have also commented on L. 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. National Bank Financial upped their price target on Loblaw Companies from C$71.00 to C$72.00 and gave the stock a “reduce” rating in a research note on Thursday, July 26th. CIBC upped their price target on Loblaw Companies from C$78.00 to C$81.00 in a research note on Thursday, July 26th. Raymond James upped their price target on Loblaw Companies from C$82.00 to C$85.00 and gave the stock an “outperform” rating in a research note on Thursday, July 26th. Finally, Desjardins upped their target price on Loblaw Companies from C$76.00 to C$77.00 in a research report on Thursday, July 26th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of C$75.78.

Shares of TSE:L opened at C$52.10 on Friday. Loblaw Companies has a 12 month low of C$51.90 and a 12 month high of C$70.39.

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

Loblaw Companies Company Profile

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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