Analyst Stephen Macleod of BMO Capital maintained a Buy rating on North West, reducing the price target to C$57.00.
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Stephen Macleod has given his Buy rating due to a combination of factors that suggest a positive long-term outlook for North West. Despite some short-term challenges such as wildfires and changes to funding programs, the company is expected to benefit from settlement payments and community-support initiatives that will drive sales growth through 2026.
The company’s strong position as an essential retailer in Northern Canada and Alaska, along with anticipated benefits from infrastructure and program spending in Indigenous communities, supports a favorable medium- to long-term perspective. Additionally, the expected acceleration in same-store sales growth and incremental earnings before interest and taxes through 2025 and 2026 further underpin the Buy rating.
In another report released on September 4, RBC Capital also maintained a Buy rating on the stock with a C$60.00 price target.
Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of NWC in relation to earlier this year.