George Weston Price Target Raised to $269 at CIBC

MT Newswires Live11-20 20:58

CIBC Capital Markets raised its price target on George Weston Ltd. (WN.TO) to $269 from $254.

Analyst Mark Petrie maintained an Outperformer rating on shares of the Canadian food retailer and holding company.

"George Weston's Q3 results brought no surprises given the known results of Loblaw Cos. Ltd. (L.TO) and Choice Properties REIT (CHP-UN.TO)," Petrie said in a note to clients.

"Capital allocation priorities remain consistent, with the primary use of excess cash flow allotted to share buyback," the analyst said.

"Though the Holdco discount held in a narrow band through the quarter, we still see runway for it to narrow.," Petrie said. "We maintain WN is an attractive vehicle to gain exposure to L."

(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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