Market Overview

Analysts Considering Takeover Chatter on Safeway Canada; Safeway Shares Up 5%

Related SWY
#PreMarket Primer: Thursday, October 9: Fed Worries That Waning Global Economy Could Hurt US Progress
Earnings Scheduled For October 9, 2014
Facing Activist Pressure, PetSmart Reviews Capital Structure (Fox Business)

Desjardins analyst Keith Howlett believes Metro could look at purchases in the Grocery and/or Pharmacy segments following the sale of nearly half of its stake in Couche-Tard. Howelett specifically mentioned Safeway Canada, Jean Coutu and Overwaitea as possible targets.

In addition, BMO's Karen Short mentioned Safeway Canada in a note from earlier, suggesting an offer could be more likely following the recent REIT conversion at Loblaw.

Safeway shares are up more than 5 percent on Wednesday as this takeover chatter makes the rounds. The stock last traded at $19.87 on the NYSE.

Latest Ratings for SWY

DateFirmActionFromTo
Apr 2014Cantor FitzgeraldMaintainsHold
Apr 2014Deutsche BankMaintainsHold
Apr 2014JefferiesMaintainsHold

View More Analyst Ratings for SWY
View the Latest Analyst Ratings

Posted-In: Analyst Color Analyst Ratings Movers

 

Related Articles (SWY)

Around the Web, We're Loving...

Get Benzinga's Newsletters