Are Empire Company Limited (TSE:EMP.A) Shares Reaching An Inflection Point; Eight Capital Decides to Upgrades Company

September 17, 2017 - By Ellis Scott

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

Eight Capital gave has just issued a new rating of Buy on shares of Empire Company Limited (TSE:EMP.A) in an analyst report revealed to clients and investors earlier today, which is a increase from the old Neutral rating for shares. The firm now has a solid $30.00 TP on Empire Company Limited (TSE:EMP.A), which suggests upside potential of around 25.00 %.

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. Scotia Capital maintained the shares of EMP.A in report on Friday, December 2 with “Sector Perform” rating. As per Friday, March 17, the company rating was upgraded by Barclays Capital. The rating was maintained by RBC Capital Markets with “Sector Perform” on Friday, September 9. On Monday, January 16 the stock rating was maintained by Scotia Capital with “Sector Perform”. The rating was maintained by TD Securities on Monday, January 23 with “Reduce”. TD Securities upgraded it to “Hold” rating and $17 target in Thursday, March 16 report. RBC Capital Markets maintained the stock with “Sector Perform” rating in Thursday, December 1 report. Dundee Securities maintained the stock with “Neutral” rating in Thursday, September 22 report. The firm has “Market Perform” rating by BMO Capital Markets given on Friday, September 16. Scotia Capital maintained Empire Company Limited (TSE:EMP.A) on Wednesday, June 29 with “Sector Perform” rating.

The stock increased 6.15% or $1.39 on September 15, reaching $24. About 2.20 million 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: “Empire Company Limited May Be Heading for Another Plunge” on June 16, 2017, also Fool.ca with their article: “Cautious Investors: Avoid the Steep Slide of Empire Company Limited” published on September 05, 2017, Fool.ca published: “Empire Company Limited’s Q1 Results Beat Estimates: Is the Stock a Buy?” on September 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: “How Empire Company Limited Is Coming out of the Basement” with publication date: June 14, 2017.

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