Empire Co Cl A NV (EMP.A – Research Report), the Consumer Goods sector company was revisited today, and remains undervalued for at least one analyst on the street. Analyst George Doumet from Scotiabank reiterated a Buy rating, with a C$42.50 price target.
According to TipRanks.com, Doumet is a 3-star analyst with an average return of 2.0% and a 49.8% success rate. Doumet covers the NA sector, focusing on stocks such as Restaurant Brands International, Gildan Activewear, and Canadian Tire.
Currently, the analyst consensus on Empire Co Cl A NV is a Moderate Buy with an average price target of C$44.77, which is a 30.1% upside from current levels. In a report issued on September 5, Desjardins also maintained a Buy rating on the stock with a C$41.00 price target.
The company has a one-year high of C$38.51 and a one-year low of C$33.09. Currently, Empire Co Cl A NV has an average volume of 365.6K.
Empire Co Ltd key businesses are food retailing, investments, and other operations. The food retailing division operates through Empire’s subsidiary Sobeys and represents nearly all of the company’s income. This segment owns, affiliates, or franchises more than 1,500 stores in 10 provinces, under retail banners including Sobeys, Safeway, IGA, Foodland, FreshCo, Thrifty Foods, Lawton’s Drug Stores, and multiple retail fuel locations. The company’s investment and other operations segment include the investment in Crombie REIT, which is an open-ended Canadian real estate investment trust, as well as the Genstar Development Partnership.
The company’s shares closed last Friday at C$34.77.
