RBC Capital Bumps Up George Weston Price Target By ~8%

• RBC Capital analyst Irene Nattel raised the price target for George Weston Ltd (TSX:WN) (OTC:WNGRF) to C$179 from C$165 with an Outperform rating on the shares.
• The analyst updated the model and valuation to reflect the actual Q1 share buyback at George Weston along with Q1 results.
• Nattel says that the constructive outlook on George Weston is predicated on a favorable outlook for >50%-owned Loblaw Companies Ltd (TSX:L) augmented by the application of a portion of proceeds from the sale of WN Foods via the NCIB over time.
• Price Action: WN shares are trading lower by 2.34% at C$155.12 on TSX on the last check Tuesday.