National Bankshares Issues Positive Forecast for Loblaw Companies (TSE:L) Stock Price

Key Points

• National Bankshares raised its price target for Loblaw Companies from C$60.00 to C$61.00, indicating a potential upside of 3.20% from the previous close.
• Multiple analysts have increased their price targets for Loblaw Companies, with BMO setting it at C$230.00 and Royal Bank of Canada at C$267.00, while maintaining "buy" and "outperform" ratings.
• Loblaw Companies' stock traded at C$59.11 on Wednesday, with a market capitalization of C$70.28 billion and a notable debt-to-equity ratio of 166.11.

Loblaw Companies (TSE:L - Get Free Report) had its price target hoisted by research analysts at National Bankshares from C$60.00 to C$61.00 in a report issued on Wednesday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. National Bankshares' price objective would indicate a potential upside of 3.20% from the company's previous close.

Other equities research analysts also recently issued research reports about the stock. BMO Capital Markets upped their price objective on shares of Loblaw Companies from C$220.00 to C$230.00 and gave the stock a "market perform" rating in a report on Friday, July 25th. Royal Bank Of Canada upped their price objective on shares of Loblaw Companies from C$234.00 to C$267.00 in a report on Monday, July 21st. TD Securities upped their price objective on shares of Loblaw Companies from C$245.00 to C$250.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Desjardins upped their price objective on shares of Loblaw Companies from C$230.00 to C$235.00 and gave the stock a "hold" rating in a report on Friday, July 25th. Finally, Scotiabank upped their price objective on shares of Loblaw Companies from C$61.00 to C$65.00 and gave the stock an "outperform" rating in a report on Thursday, August 21st. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of C$199.38.

Loblaw Companies Stock Performance

Shares of L traded up C$0.90 during midday trading on Wednesday, hitting C$59.11. 316,429 shares of the stock traded hands, compared to its average volume of 1,500,846. The firm has a market capitalization of C$70.28 billion, a PE ratio of 29.30, a price-to-earnings-growth ratio of 3.23 and a beta of 0.29. The business's 50 day moving average price is C$69.64 and its two-hundred day moving average price is C$168.24. Loblaw Companies has a 1-year low of C$43.17 and a 1-year high of C$59.70. The company has a debt-to-equity ratio of 166.11, a quick ratio of 0.68 and a current ratio of 1.29.

Loblaw Companies Company Profile

Loblaw is one of Canada's largest grocery, pharmacy, and general merchandise retailers, operating the most expansive store footprint in Ontario and maintaining sizable presences in provinces like Quebec and British Columbia. Key grocery banners include Loblaw, No Frills, and Maxi, while its pharmaceutical operations are the product of its 2014 acquisition of Shoppers Drug Mart.

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