Metro Inc. Receives a Buy from Scotiabank

Metro Inc. (TSX: MRU), the Services sector company, was revisited by a Wall Street analyst on July 25. Analyst Patricia Baker from Scotiabank reiterated a Buy rating, with a C$46.50 price target on July 25.

According to TipRanks.com, Baker is a 4-star analyst with an average return of 7.4% and a 60.8% success rate. Baker covers the Services sector, focusing on stocks such as Walgreens Boots Alliance, Alimentation Couche Tard, and Loblaw Companies Limited.

Currently, the analyst consensus on Metro Inc. is Moderate Buy and the average price target is C$46, representing a 12.6% upside.

In a report issued on November 2, RBC Capital also reiterated a Buy rating on the stock with a C$49 price target.

Based on Metro Inc.’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of C$4.02 billion and quarterly net profit of C$172 million. In comparison, last year the company earned revenue of C$3.84 billion and had a net profit of C$159 million.

Metro, Inc. engages in the operation of supermarkets, discount stores, and drugstores. It manages its food stores under the following banners: Metro, Metro Plus, Super C, Food Basics, Adonis, and Première Moisson, as well as drugstores under the Brunet, Metro Pharmacy, and Drug Basics banners. The company was founded on December 22, 1947 and is headquartered in Montréal, Canada.