BMO Capital Markets Increases Empire (TSE:EMP.A) Price Target to C$42.00

Empire (TSE:EMP.A) had its price objective upped by research analysts at BMO Capital Markets from C$36.00 to C$42.00 in a research note issued to investors on Friday, BayStreet.CA reports. BMO Capital Markets’ price target would suggest a potential upside of 16.12% from the stock’s previous close.

EMP.A has been the subject of a number of other research reports. National Bank Financial increased their price objective on shares of Empire from C$34.00 to C$37.00 and gave the company an “outperform” rating in a research note on Friday, June 28th. TD Securities increased their price objective on shares of Empire from C$34.00 to C$37.00 and gave the company a “hold” rating in a research note on Friday, August 16th. Raymond James restated a “market perform” rating and issued a C$32.00 price objective on shares of Empire in a research note on Friday, June 21st. Royal Bank of Canada increased their price objective on shares of Empire from C$32.00 to C$35.00 and gave the company a “sector perform” rating in a research note on Friday, June 28th. Finally, CIBC cut shares of Empire from an “outperform” rating to a “neutral” rating and increased their price objective for the company from C$33.00 to C$34.00 in a research note on Tuesday, July 2nd. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of C$34.94.

TSE:EMP.A traded up C$0.05 during trading hours on Friday, hitting C$36.17. 177,155 shares of the company traded hands, compared to its average volume of 314,151. The stock has a market capitalization of $6.28 billion and a price-to-earnings ratio of 25.47. Empire has a twelve month low of C$22.38 and a twelve month high of C$37.10. The firm has a 50-day moving average of C$34.81 and a 200 day moving average of C$31.53. The company has a current ratio of 0.98, a quick ratio of 0.38 and a debt-to-equity ratio of 49.50.

About Empire

Empire Company Limited, together with its subsidiaries, engages in the food retail and related real estate businesses in Canada. It operates through two segments, Food Retailing, and Investments and Other Operations. The company owns, affiliates, and franchises approximately 1,500 retail stores under various retail banners, including Sobeys, Safeway, IGA, Foodland, FreshCo, Thrifty Foods, and Lawtons Drugs; and approximately 350 retail fuel locations.

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