BMO Capital Reiterates Their Buy Rating on Loblaw Companies Ltd

By Carrie Williams

In a latest note to investors, a research analyst has provided a rating update for the Services sector company, Loblaw Companies Ltd (TSX: L). Analyst Peter Sklar from BMO Capital reiterated a Buy rating, with a C$85 price target on June 16.

According to TipRanks.com, Sklar is a 4-star analyst with an average return of 12.2% and a 52.9% success rate. Sklar covers the Services sector, focusing on stocks such as Restaurant Brands International, Alimentation Couche Tard, and Loblaw Companies Limited.

Currently, the analyst consensus on Loblaw Companies Ltd is Strong Buy and the average price target is C$85.80, representing a 17.9% upside.

In a report issued on June 16, RBC Capital also reiterated a Buy rating on the stock with a C$92 price target.

The company has a one year high of C$78.87 and a one year low of C$62.33. Currently, Loblaw Companies Ltd has an average volume of 625K.

Loblaw Cos. Ltd. operates as a food retailer. It engages in providing drugstore, general merchandise and financial products and services. The company operates through the following business segments: Retail, Financial Services and Choice Properties. The Retail segment consists primarily of retail food and Aasociate-owned drug stores, and also includes in-store pharmacies and other health and beauty products, gas bars and apparel and other general merchandise. The Financial Services segment provides credit card services, loyalty programs, insurance brokerage services, personal banking services provided by a major Canadian chartered bank, deposit taking services and telecommunication services. The Choice Properties segment owns and leases income-producing commercial properties. It also offers strong and innovative control label program for both food and everyday household needs. The company was founded on January 18, 1956 and is headquartered in Brampton, Canada.

The company’s shares closed last Friday at $72.79.