The Globe and Mail reports in its Friday, Sept. 15, edition that Empire is seeing a few analysts tweak their share targets higher in the wake of well-received earnings on Thursday. The Globe's Darcy Keith writes that CIBC World Markets elevated its share target by a loonie to $44. National Bank of Canada raised its share target by $2 to $44. Scotia Capital gave its share target a 50-cent boost to $43. TD Securities raised its target also by a loonie to $43. Empire reported adjusted earnings per share of 78 cents, four cents ahead of the consensus. Scotiabank analyst George Doumet says in a note: "Looking ahead, while we expect a moderation in the rate of gross margin expansion, we are getting signs of improvement in traffic/basket at the full-service banners. When coupled with company specific initiatives underway (focus on stores, digital and data and efficiency/cost control), we believe Empire is positioned to deliver on its 8- to 11-per-cent EPS compounded annual growth rate. In the nearer term, we believe Empire is best positioned to benefit from (quickly) decelerating food inflation (and ideally, a more moderate recession environment) -- and expect sentiment to likely improve ahead of earnings."