Loblaw assumed with an Outperform at Scotiabank

Scotiabank assumed coverage of Loblaw (LBLCF) with an Outperform rating and C$200 price target The firm assumed coverage of four stocks within the Canadian grocery sector. Canada’s grocers offer investors “quality, reasonable growth, defensiveness, and a strong long-term track record,” the analyst tells investors in a research note. Scotiabank says that with food inflation returning to traditional levels, it expects pharmacy to take center stage within the grocery sector and believe those companies with the most exposure will outperform.