02:00 PM EST, 12/13/2024 (MT Newswires) -- National Bank has lifted its target on Empire Company to $49 (from $46), reiterating its Sector Perform rating.

Empire reported fiscal second quarter EPS of $0.73 versus NBF at $0.69. Last year was $0.71.

"We hold a positive view on Q2/F25 results, reflecting better than expected sssg and good FR EBITDA growth; this is in the context of low valuation vs. peers. A higher than expected share of earnings from investments and other income added ~$0.06 to EPS vs. NBF, suggesting that the EPS beat was aided by transient factors."

The company also noted market share gains across formats.

EPS estimates revised slightly higher: F2025 goes to $3.01 from $2.99; F2026 goes to $3.30 from $3.22.

Price: 44.80, Change: -0.48, Percent Change: -1.06