Shares of Loblaw Companies Ltd (OTCMKTS:LBLCF) rose 1.8% during mid-day trading on Thursday . The company traded as high as $53.35 and last traded at $53.35, approximately 1,000 shares traded hands during trading. A decline of 33% from the average daily volume of 1,490 shares. The stock had previously closed at $52.40.
Several brokerages have recently commented on LBLCF. BMO Capital Markets set a $79.00 price objective on Loblaw Companies and gave the company a “buy” rating in a report on Monday, October 21st. Desjardins downgraded Loblaw Companies from a “buy” rating to a “hold” rating and set a $76.00 target price on the stock. in a research note on Friday, November 29th.
The firm has a fifty day simple moving average of $52.04 and a two-hundred day simple moving average of $53.36.
About Loblaw Companies (OTCMKTS:LBLCF)
Loblaw Companies Limited, a food and pharmacy company, engages in the grocery, pharmacy, health and beauty, apparel, general merchandise, financial services, and wireless mobile products and services businesses in Canada. It operates in two segments, Retail and Financial Services. The Retail segment operates corporate and franchise-owned retail food, and associate-owned drug stores comprising in-store pharmacies, other health and beauty product stores, apparel stores, and other general merchandise stores, as well as supports the PC Optimum reward program.
Further Reading: Are sell-side analysts objective?
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