The Consumer Goods sector company, Empire Co Cl A NV (EMP.A – Research Report), has received a rating update from a Wall Street analyst today. Analyst Chris Li CFA from Desjardins reiterated a Buy rating, with a C$42.00 price target.
According to TipRanks.com, CFA is a 4-star analyst with an average return of 5.9% and a 61.6% success rate. CFA covers the NA sector, focusing on stocks such as Gildan Activewear, Canadian Tire, and Dollarama.
Currently, the analyst consensus on Empire Co Cl A NV is a Moderate Buy with an average price target of C$43.57, implying a 15.9% upside from current levels. In a report released yesterday, Scotiabank also maintained a Buy rating on the stock with a C$43.00 price target.
Empire Co Cl A NV’s market cap is currently C$9.47B and has a P/E ratio of 12.60.
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 Tuesday at C$37.82.
