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Analyst Updates: Empire Co. Outlook, Couche-Tard Resilience, and Big Six Bank Performance
Finance · Major Banks · globe_inside_market · 2026-09-02
EMP, ATD, TD, RY, EQB, NA, CM, BMO, BNS, CVE, TXCX
Financial analysts weigh in on Empire Co., Alimentation Couche-Tard's quarterly results, and the strong performance of Canada's major banking sector.
What Happened
Empire Co. Outlook: National Bank Financial maintains a sector perform rating on Empire Co. ahead of its fiscal 2027 first-quarter results, citing a challenging consumer environment. Analyst Vishal Shreedhar notes that while food store inflation is moderating, the company is expected to benefit from operational efficiencies and its strategic expansion into pharmacy services.
Couche-Tard Performance: RBC Dominion Securities reaffirmed an outperform rating for Alimentation Couche-Tard following solid quarterly results that showcased the company's operational resilience. Despite a difficult retail backdrop, the convenience store operator maintained strong fuel margins and disciplined expense management, positioning it well for future growth.
Canadian Banking Sector: Desjardins Securities analyst Doug Young highlighted a strong reporting season for Canada’s Big Six banks, noting that capital markets and wealth management divisions drove earnings beats. While management teams remain watchful of tariff-related risks, the overall outlook for the sector has improved, leading to upward revisions in cash EPS estimates.
Energy Sector Adjustments: Beyond retail and finance, analyst John Gerdes of Gerdes Energy Research adjusted his stance on Cenovus Energy. The firm upgraded the stock to buy from neutral, setting a US$50 target as it evaluates the company's valuation and market position following recent share price movements.