03:13 PM EDT, 06/25/2024 (MT Newswires) -- Loblaw ( LBLCF ) reports second quarter results on July 25.

National Bank is forecasting second quarter earnings per share of $2.14, versus consensus at $2.15; last year was $1.94. "Our projection of 10.1% y/y EPS growth reflects positive Food Retail same store sales growth, continued momentum in Shoppers Drug Mart, benefits from ongoing growth/efficiency programs, and share repurchases," writes analyst Vishal Shreedhar.

Based on National's proprietary review of customer sentiment, a public boycott of Loblaws stores in May will have an impact on Loblaw's ( LBLCF ) results, albeit limited, Shreedhar adds.

Maintain Outperform rating; price target is $159.

Price: 157.24, Change: +0.74, Percent Change: +0.47