Empire Company Limited (TSE:EMP.A) Has Just Had Its Price Objective Upped by Analysts at Raymond James to $24.00

September 17, 2017 - By Nellie Frank

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

In an analyst report issued to clients and investors by Raymond James on Friday, 15 September, Empire Company Limited (TSE:EMP.A) had its price target increased to $24.00. The firm currently has a solid Market Perform 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. On Friday, March 17 the stock rating was upgraded by Barclays Capital to “Equal Weight”. RBC Capital Markets maintained the shares of EMP.A in report on Friday, September 9 with “Sector Perform” rating. As per Wednesday, March 15, the company rating was maintained by Raymond James. Scotia Capital maintained the shares of EMP.A in report on Friday, December 2 with “Sector Perform” rating. The rating was maintained by TD Securities with “Reduce” on Monday, January 23. The firm has “Market Perform” rating by BMO Capital Markets given on Friday, September 16. The firm has “Sector Perform” rating by RBC Capital Markets given on Thursday, December 1. The company was maintained on Friday, September 16 by RBC Capital Markets. The rating was maintained by Scotia Capital with “Sector Perform” on Monday, January 16. BMO Capital Markets upgraded Empire Company Limited (TSE:EMP.A) rating on Friday, June 30. BMO Capital Markets has “Outperform” rating and $25 target.

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: “Empire Company Limited’s Q1 Results Beat Estimates: Is the Stock a Buy?” on September 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: “Why Empire Company Limited Soared 14.48% on Thursday” on September 15, 2017. More interesting news about Empire Company Limited (TSE:EMP.A) were released by: Fool.ca and their article: “How Empire Company Limited Is Coming out of the Basement” published on June 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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