Hudson's Bay Co (HBC) Price Target Cut to C$10.00

Hudson's Bay Co (TSE:HBC) had its target price cut by TD Securities from C$12.00 to C$10.00 in a research note released on Friday. They currently have a hold rating on the stock.

Several other research firms also recently weighed in on HBC. Credit Suisse Group downgraded shares of Hudson's Bay Co from an outperform rating to a neutral rating in a report on Friday, April 21st. Scotiabank reiterated a sector perform rating and issued a C$14.50 target price on shares of Hudson's Bay Co in a report on Wednesday, April 5th. Royal Bank Of Canada lifted their target price on shares of Hudson's Bay Co from C$12.00 to C$13.00 and gave the company a sector perform rating in a report on Thursday, April 6th. BMO Capital Markets dropped their target price on shares of Hudson's Bay Co from C$35.00 to C$31.00 in a report on Monday, April 10th. Finally, Canaccord Genuity dropped their target price on shares of Hudson's Bay Co from C$12.00 to C$11.00 and set a hold rating for the company in a report on Tuesday, June 6th. Nine equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Hudson's Bay Co presently has a consensus rating of Hold and an average target price of C$13.50.

Analyst Recommendations for Hudson's Bay Co (TSE:HBC)

Shares of Hudson's Bay Co (TSE HBC) opened at 8.59 on Friday. The company has a 50 day moving average price of $10.45 and a 200-day moving average price of $11.40. Hudson's Bay Co has a one year low of $8.44 and a one year high of $18.60. The stock’s market cap is $1.56 billion.

Hudson's Bay Co (TSE:HBC) last posted its earnings results on Thursday, June 8th. The company reported ($1.19) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.70) by $0.49. The company had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.20 billion. Equities analysts predict that Hudson's Bay Co will post ($1.83) earnings per share for the current fiscal year.

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About Hudson's Bay Co

Hudson’s Bay Company (HBC) is a Canada-based department store retailer. The Company is an operator and a consolidator, as well as a real estate developer. The Company’s retail portfolio includes approximately 10 banners, in formats ranging from luxury to better department stores to off price fashion shopping destinations, with over 460 stores.

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