National Bank Lifts Empire Company Price Target to $55.00 in a Fiscal Q4 Preview
National Bank on Monday raised its price target on the shares of Empire Company (EMP-A.TO) by $1.00 to $55.00, in its preview of the grocery company's fiscal fourth-quarter results on June 18.Analyst Vishal Shreedhar, who is maintaining a sector perform-rating on the company, is projecting fourth quarter earnings per share of $0.88, in line with consensus; last year was $0.74. He projects 1.5% same store sales growth which reflects solid inflation trends, partly offset by expectations for an increase in value-seeking behavior and the "cycling of a tougher comparable base" of 3.8% last year."We remain on the sidelines as we evaluate EMP's ability to deliver consistent growth; the valuation discount versus peers, in part, compensates investors for a long-term fluctuating earnings track record," he wrote.Price: $48.91, Change: $-0.42, Percent Change: -0.85%