Ratings Change: Empire Company Limited (TSE:EMP.A) Had Its Price Objective Lowered by 4.35% at National Bank Financial to $22.00

November 24, 2016 - By Darrin Black

Empire Company Limited (TSE:EMP.A) Target Upped

In analysts note sent to investors by National Bank Financial on Thursday morning, Empire Company Limited (TSE:EMP.A) had its target downgraded to $22.00. The firm at present has Sector Perform rating on the stock.

Empire Company Limited (TSE:EMP.A) Ratings Coverage

Out of 7 analysts covering Empire Company Limited (TSE:EMP.A), 0 rate it a “Buy”, 2 “Sell”, while 5 “Hold”. This means 0 are positive. $92 is the highest target while $18 is the lowest. The $35.56 average target is 93.26% above today’s ($18.4) stock price. Empire Company Limited has been the topic of 15 analyst reports since September 10, 2015 according to StockzIntelligence Inc. The firm has “Sector Outperform” rating given on Friday, September 11 by Scotia Capital. The firm earned “Sector Perform” rating on Friday, September 9 by RBC Capital Markets. TD Securities downgraded it to “Reduce” rating and $18 target price in Friday, September 16 report. RBC Capital Markets maintained Empire Company Limited (TSE:EMP.A) rating on Friday, September 16. RBC Capital Markets has “Sector Perform” rating and $22 price target. Scotia Capital maintained the shares of EMP.A in a report on Wednesday, June 29 with “Sector Perform” rating. As per Thursday, September 22, the company rating was maintained by Dundee Securities. The rating was maintained by BMO Capital Markets with “Market Perform” on Friday, September 16.

About 138,128 shares traded hands. Empire Company Limited (TSE:EMP.A) has declined 12.55% since April 27, 2016 and is downtrending. It has underperformed by 17.96% the S&P500.

Empire Company Limited is engaged in the business of food retailing and related real estate. The company has a market cap of $5.10 billion. The Company’s divisions include Food Retailing, and Investments and Other Operations. It currently has negative earnings. 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: “Is Empire Company Limited a Buy After Shares Plunged 13%?” on March 10, 2016, also Fool.ca with their article: “Should You Buy Empire Company Limited After the 9% Drop?” published on September 11, 2015, Fool.ca published: “Why Empire Company Limited’s Shares Have Tanked 10% Today” on June 29, 2016. More interesting news about Empire Company Limited (TSE:EMP.A) were released by: Fool.ca and their article: “Back at 2012 Levels: Is Empire Company Limited a Bargain?” published on July 01, 2016 as well as Theglobeandmail.com‘s news article titled: “Empire Co. profit falls as challenges in Western Canada persist” with publication date: September 15, 2016.

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