Empire (EMP.A) PT Raised to C$32.00 at Raymond James

Empire (TSE:EMP.A) had its price target increased by Raymond James from C$31.00 to C$32.00 in a report issued on Thursday. The firm presently has a “market perform” rating on the stock. Raymond James’ target price indicates a potential upside of 11.81% from the company’s previous close.

Several other analysts have also recently issued reports on EMP.A. TD Securities upped their price objective on shares of Empire from C$27.00 to C$30.00 and gave the company a “hold” rating in a research note on Friday, December 14th. Royal Bank of Canada upped their price objective on shares of Empire from C$29.00 to C$30.00 in a research note on Friday, December 14th. National Bank Financial upped their price objective on shares of Empire from C$30.00 to C$33.00 and gave the company an “outperform” rating in a research note on Friday, December 14th. Desjardins raised shares of Empire from a “hold” rating to a “buy” rating and upped their price objective for the company from C$27.00 to C$32.00 in a research note on Friday, December 14th. Finally, CIBC raised shares of Empire from a “neutral” rating to an “outperform” rating and upped their price objective for the company from C$27.00 to C$33.00 in a research note on Friday, December 14th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of C$32.19.

Shares of TSE EMP.A opened at C$28.62 on Thursday. Empire has a 12-month low of C$17.43 and a 12-month high of C$26.34. The stock has a market cap of $4.92 billion and a P/E ratio of 23.67. The company has a debt-to-equity ratio of 41.48, a current ratio of 1.12 and a quick ratio of 0.47.

About Empire

Empire Company Limited, together with its subsidiaries, engages in the food retail and related real estate businesses in Canada. It operates through two segments, Food Retailing, and Investments and Other Operations. The company owns, affiliates, and franchises approximately 1,500 retail stores under various retail banners, including Sobeys, Safeway, IGA, Foodland, FreshCo, Thrifty Foods, and Lawtons Drugs; and approximately 350 retail fuel locations.

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