Empire Company Limited (TSE:EMP.A) Has Just Had Its Price Target Upped by Analysts at CIBC World Markets to $27.00

September 17, 2017 - By Richard Conner

Stock Analysis:Empire Company Limited (TSE:EMP.A) Target Change

In an analyst note made public by CIBC World Markets on Friday morning, Empire Company Limited (TSE:EMP.A) had its target price per share raised to $27.00. The firm right now has a solid “Outperform” rating on shares.

Empire Company Limited (TSE:EMP.A) Ratings Coverage

Among 9 analysts covering Empire Company Limited (TSE:EMP.A), 1 have Buy rating, 1 Sell and 7 Hold. Therefore 11% are positive. Empire Company Limited has $92 highest and $14 lowest target. $33.10’s average target is 37.92% above currents $24 stock price. Empire Company Limited had 33 analyst reports since September 10, 2015 according to SRatingsIntel. RBC Capital Markets maintained the shares of EMP.A in report on Friday, September 16 with “Sector Perform” rating. RBC Capital Markets maintained the shares of EMP.A in report on Friday, September 9 with “Sector Perform” rating. Scotia Capital maintained the stock with “Sector Perform” rating in Friday, December 2 report. Dundee Securities maintained Empire Company Limited (TSE:EMP.A) rating on Thursday, September 22. Dundee Securities has “Neutral” rating and $20 target. TD Securities upgraded the shares of EMP.A in report on Thursday, March 16 to “Hold” rating. On Friday, September 11 the stock rating was maintained by Scotia Capital with “Sector Outperform”. TD Securities downgraded the stock to “Reduce” rating in Friday, September 16 report. Scotia Capital maintained Empire Company Limited (TSE:EMP.A) on Monday, January 16 with “Sector Perform” rating. The rating was upgraded by BMO Capital Markets to “Outperform” on Friday, June 30. The firm has “Market Perform” rating given on Friday, September 16 by BMO Capital Markets.

The stock increased 6.15% or $1.39 on September 15, reaching $24. About 2.20M shares traded or 455.36% up from the average. Empire Company Limited (TSE:EMP.A) has 0.00% since September 17, 2016 and is . It has underperformed by 16.70% the S&P500.

Empire Company Limited is engaged in the business of food retailing and related real estate. The company has market cap of $6.52 billion. The Company’s divisions include Food Retailing, and Investments and Other Operations. It has a 44.39 P/E ratio. The Food Retailing segment consists of its subsidiary, Sobeys Inc., which owns, affiliates or franchises over 1,500 stores in approximately 10 provinces under retail banners that include Sobeys, Safeway, IGA, Foodland, FreshCo, Thrifty Foods, and Lawton’s Drug Stores, as well as more than 350 retail fuel locations.

More notable recent Empire Company Limited (TSE:EMP.A) news were published by: Fool.ca which released: “How Empire Company Limited Is Coming out of the Basement” on June 14, 2017, also Fool.ca with their article: “Why I’m Avoiding Empire Company Limited Like the Plague” published on August 30, 2017, Fool.ca published: “Empire Company Limited May Be Heading for Another Plunge” on June 16, 2017. More interesting news about Empire Company Limited (TSE:EMP.A) were released by: Fool.ca and their article: “Empire Company Limited’s Q1 Results Beat Estimates: Is the Stock a Buy?” published on September 14, 2017 as well as Fool.ca‘s news article titled: “Cautious Investors: Avoid the Steep Slide of Empire Company Limited” with publication date: September 05, 2017.

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