Loblaw downgraded to Sector Perform from Outperform at Scotiabank

Scotiabank analyst John Zamparo downgraded Loblaw (LBLCF) to Sector Perform from Outperform with an unchanged price target of C$200. The stock’s performance, as well as a “wider-than-normal discount” to George Weston’s sum-of-the-parts, now at 16.5%, “makes for prudent timing to switch” stock preferences, the analyst tells investors in a research note. The firm sees the grocers as well positioned for 2025.