Analysts at TD Securities and CIBC Capital Markets raised their price targets on Empire Co. Ltd. (EMP-A.TO) following the Canadian food retailer's fiscal Q4 results.
TD analyst Michael Van Aelst increased his target on the stock to $58 from $48, and maintained a Hold rating.
"Q4 strong ex-SBC, but unclear how much is sustainable as management did not help much in that matter on conference call," Van Aelst said in a note to clients.
"EPS beat driven by GM% and other inc (real estate gains)," the analyst said. "We see opex increasing with soft growth, offsetting some of the lower expected SBC."
CIBC analyst Mark Petrie raised his target to $59 from $55, and maintained an Outperformer rating.
"Strong same-store sales (SSS) momentum is the highlight of the quarter and is aligned with our thesis on Empire outperforming as shifts in consumer behaviour (in food) stabilize," Petrie said in a note to clients.
"Higher share-based comp obscured what could have been even better earnings growth," the analyst said.
"We see further margin expansion in F2026."
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
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