Scotiabank upgraded George Weston (WNGRF) to Outperform from Sector Perform with a price target of C$240, up from C$218. The firm recommends switching out of Loblaw and into George Weston at current valuation levels. The grocers are well positioned for 2025, which should see food-at-home take share amid soft consumer sentiment and persistently higher inflation at restaurants compared to grocery, the analyst tells investors in a research note.
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