12:44 PM EDT, 08/15/2024 (MT Newswires) -- National Bank has raised its target on Metro by $3, to $88, after the company reported its third quarter results.

Metro reported third quarter adjusted EPS of $1.35 in line with NBF, versus consensus at $1.34; last year was $1.35.

"We view Q3/F24 results to be slightly positive owing to above expectation sssg," said analyst Vishal Shreedhar. National has raised its EPS estimates -- F2024 goes to $4.28 from $4.27 (guidance is $4.20-$4.30; consensus is $4.26), and F2025 goes to $4.77 from $4.75.

"We believe that Metro is a solid company which has delivered solid long-term returns; however, these attributes are adequately reflected in valuation."

Maintain Sector Perform rating.

Price: 84.41, Change: +2.25, Percent Change: +2.74