Scotiabank Sticks to Its Buy Rating for Weston George

By Ryan Adsit

Weston George (TSX: WN), the Services sector company, has received a rating update from a Wall Street analyst yesterday. The company received a Buy rating from Scotiabank’s analyst Patricia Baker, with a C$136 price target.

According to TipRanks.com, Baker is a 4-star analyst with an average return of 10.1% and a 61.5% success rate. Baker covers the Services sector, focusing on stocks such as Walgreens Boots Alliance, Alimentation Couche Tard, and Loblaw Companies Limited.

Currently, the analyst consensus on Weston George is Moderate Buy and the average price target is C$135.33, representing a 14.5% upside.

In a report issued on June 19, RBC Capital also reiterated a Buy rating on the stock with a C$155 price target.

Weston George’s market cap is currently C$15.09B and has a P/E ratio of 26.2.

George Weston Ltd. engages in the food processing and distribution of fresh and frozen baked goods and other foods. It operates through two segments: Weston Foods and Loblaw. The Weston Foods segment produces a variety of fresh, frozen and specialty bakery products including breads, rolls, bagels, tortillas, donuts, cakes, pies, cookies, crackers and other baked goods. The Loblaw segment operates through Loblaw Companies Ltd. and its subsidiaries, which distributes food and provides drugstore, general merchandise and financial products and services. The company was founded by George Weston in 1882 and is headquartered in Toronto, Canada.,05H62K-E

The company’s shares closed last Friday at $118.19.