CIBC Reaffirms Their Hold Rating on Hudson’s Bay (HBC)

Hudson’s Bay (HBCResearch Report), the Services sector company, has received a rating update from a Wall Street analyst yesterday. Analyst Mark Petrie from CIBC rated Hudson’s Bay (HBCResearch Report) a Hold, setting a C$12 price target.

According to TipRanks.com, Petrie is a 5-star analyst with an average return of 13.5% and a 59.5% success rate. Petrie covers the Services sector, focusing on stocks such as Restaurant Brands International, Loblaw Companies Limited, and Dollarama Inc.

Read also: This Analyst Presses the ‘Buy’ Button on Foot Locker (FL) Stock on Back of Strong Earnings

Currently, the analyst consensus on Hudson’s Bay is a Hold with an average price target of C$11.30, a 21.9% upside from current levels. In a report issued on November 22, TD Securities also maintained a Hold rating on the stock with a C$10.50 price target.

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The company has a one-year high of C$12.10 and a one-year low of C$7.27. Currently, Hudson’s Bay has an average volume of 217K.

Hudson’s Bay Co. engages in the ownership and operation of department stores, which engages in the sale of fashion apparel, accessories, cosmetics, and home products. It operates under the Hudson’s Bay, Lord & Taylor, Saks Fifth Avenue, Gilt, Saks OFF 5TH, and Galeria Kaufhof department stores.

The company’s shares closed on Thursday at C$9.27.

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