Analyst Tamy Chen of BMO Capital maintained a Hold rating on George Weston (WN – Research Report), with a price target of C$230.00.
Tamy Chen has given her Hold rating due to a combination of factors related to George Weston’s financial performance and market positioning. The company’s Q4/24 results were consistent with expectations, and the outlook for 2025 remains unchanged from the previous year. This stability suggests that while the company is performing adequately, there are no significant catalysts for growth that would warrant a more optimistic rating.
Additionally, the narrowing of the HoldCo discount from its peak in 2024 indicates a shift in market sentiment, particularly towards George Weston’s exposure to Choice Properties REIT. Despite this positive change, the discount remains above the levels seen in early 2023, suggesting that while there is some improvement, it is not substantial enough to alter the overall investment thesis. The revised target price reflects updated forecasts for Loblaw and Choice Properties REIT, but the neutral stance on Loblaw shares further supports the Hold rating.
According to TipRanks, Chen is ranked #7400 out of 9390 analysts.
In another report released yesterday, Scotiabank also downgraded the stock to a Hold with a C$241.00 price target.