RBC Capital Sticks to Its Buy Rating for Loblaw Companies (LBLCF)

In a report released on January 22, Irene Nattel from RBC Capital maintained a Buy rating on Loblaw Companies, with a price target of C$72.00. The company’s shares closed yesterday at C$62.37.

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According to TipRanks, Nattel is a 5-star analyst with an average return of 18.0% and a 67.22% success rate. Nattel covers the Consumer Defensive sector, focusing on stocks such as Loblaw Companies, Maple Leaf Foods, and Metro Inc..

Loblaw Companies has an analyst consensus of Strong Buy, with a price target consensus of C$66.80, a 7.11% upside from current levels. In a report released on January 15, Scotiabank also maintained a Buy rating on the stock with a C$68.00 price target.

Based on Loblaw Companies’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of C$19.4 billion and a net profit of C$794 million. In comparison, last year the company earned a revenue of C$18.54 billion and had a net profit of C$780 million

Based on the recent corporate insider activity of 120 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of LBLCF in relation to earlier this year.