Empire Company Limited (EMP.A) Receives Average Rating of “Buy” from Analysts

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Empire Company Limited (TSE:EMP.A) has been given a consensus recommendation of “Buy” by the nine ratings firms that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is C$29.88.

EMP.A has been the topic of a number of analyst reports. TD Securities raised their target price on shares of Empire from C$27.00 to C$29.00 in a research report on Friday, June 29th. Barclays raised their target price on shares of Empire from C$29.00 to C$30.00 in a research report on Monday, June 25th. National Bank Financial raised their target price on shares of Empire from C$30.00 to C$31.00 and gave the stock an “outperform” rating in a research report on Friday, June 29th. Royal Bank of Canada raised their target price on shares of Empire from C$26.00 to C$29.00 and gave the stock a “sector perform” rating in a research report on Friday, June 29th. Finally, Raymond James raised their target price on shares of Empire from C$26.00 to C$28.00 and gave the stock a “market perform” rating in a research report on Friday, June 29th.

Shares of EMP.A stock traded up C$0.04 during trading hours on Friday, hitting C$25.10. The company’s stock had a trading volume of 414,379 shares, compared to its average volume of 314,151. Empire has a twelve month low of C$17.43 and a twelve month high of C$26.34.

About Empire

Empire Company Limited is engaged in the business of food retailing and related real estate. The Company’s segments include Food Retailing, and Investments and Other Operations. 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.

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Analyst Recommendations for Empire (TSE:EMP.A)

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