Empire Company Limited (TSE:EMP.A) was upgraded by investment analysts at Barclays PLC from an “underweight” rating to an “equal weight” rating in a report released on Friday. The brokerage presently has a C$18.00 target price on the stock, up from their prior target price of C$15.00.
Other analysts have also recently issued research reports about the stock. BMO Capital Markets dropped their target price on shares of Empire Company Limited from C$20.00 to C$16.00 in a report on Friday, December 16th. TD Securities upgraded shares of Empire Company Limited from a “reduce” rating to a “hold” rating and boosted their target price for the company from C$14.00 to C$17.00 in a report on Thursday, March 16th. Raymond James Financial, Inc. restated a “market perform” rating and set a C$18.00 target price on shares of Empire Company Limited in a report on Wednesday, March 15th. Dundee Securities dropped their target price on shares of Empire Company Limited from C$18.00 to C$17.00 and set a “neutral” rating on the stock in a report on Thursday, December 15th. Finally, Scotiabank restated a “sector perform” rating and set a C$21.00 target price on shares of Empire Company Limited in a report on Friday, December 2nd. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of C$18.22.
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About Empire Company Limited
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.
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