The Globe and Mail reports in its Wednesday, June 7, edition that National Bank Financial analyst Vishal Shreedhar has reaffirmed his "outperform" recommendation and $38 share target for Empire. The Globe's David Leeder writes that analysts on average target the shares at $40.63. When Empire posts its fourth quarter 2023 results on June 22, Mr. Shreedhar will be looking for updates on the grocer's growth, which he said has lagged peers recently "in part due to underexposure to the discount segment." Mr. Shreedhar says in a note: "With easier year-over-year comparisons ahead, Empire's performance could accelerate. Last quarter, management expressed expectations for positive SSSQ [same-store sales growth] in Q4/F23 (and better results as inflation abates). We understand that Empire intends to review improvement opportunities after the completion of Project Horizon. We are looking for updates on growth initiatives, including: Scene+, productivity programs, store conversions, etc. ... Our review of peer commentary suggests grocery e-commerce will be an important strategic pillar for future growth. While performance at Voila has fallen short of expectations, we continue to believe in the longer-term outlook."