Empire Company Limited (TSE:EMP.A) Receives a Higher Rating From RBC Capital Markets. Will Other Analysts Follow Suit?

September 17, 2017 - By Marguerite Chambers

Empire Company Limited (TSE:EMP.A) Stock Upgrade

Shares of Empire Company Limited (TSE:EMP.A) were boosted to a solid Sector Perform rating thanks to equity analysts at RBC Capital Markets, who now give it a price target of $23.00. The firm’s previous Underperform rating has been canceled.

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. The stock of Empire Company Limited (TSE:EMP.A) has “Sector Perform” rating given on Friday, September 16 by RBC Capital Markets. The firm has “Sector Perform” rating given on Wednesday, June 29 by Scotia Capital. TD Securities downgraded Empire Company Limited (TSE:EMP.A) on Friday, September 16 to “Reduce” rating. Scotia Capital maintained Empire Company Limited (TSE:EMP.A) rating on Monday, January 16. Scotia Capital has “Sector Perform” rating and $17 target. Barclays Capital upgraded Empire Company Limited (TSE:EMP.A) on Friday, March 17 to “Equal Weight” rating. The stock of Empire Company Limited (TSE:EMP.A) earned “Sector Perform” rating by RBC Capital Markets on Thursday, December 1. The stock of Empire Company Limited (TSE:EMP.A) has “Neutral” rating given on Thursday, September 22 by Dundee Securities. On Friday, December 2 the stock rating was maintained by Scotia Capital with “Sector Perform”. On Wednesday, March 15 the stock rating was maintained by Raymond James with “Market Perform”. The stock of Empire Company Limited (TSE:EMP.A) earned “Market Perform” rating by BMO Capital Markets on Friday, September 16.

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

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