The Globe and Mail reports in its Tuesday, Nov. 7, edition that RBC Capital Markets analyst Irene Nattel thinks the third quarter results from Canadian grocers "should reinforce value-seeking consumers." The Globe's David Leeder writes that accordingly, Ms. Nattel boosted her share target for Empire by $2 to $50. She has an unchanged "sector perform" rating for Empire. Analysts on average target the shares at $42.25. Ms. Nattel says in a note: "Central industry theme of value-oriented consumer behaviour continues in Q3, with reallocation of household budget that favours food at home, category trade down, and the discount channel. Looking ahead, even as inflation begins to moderate, the outlook for household spending is muddled at best as pandemic-era mortgage loans begin to reset at higher rates, likely to further entrench consumer behaviour." In a research report released on Monday, Ms. Nattel said that view of the sector is not currently "appropriately reflected in relative valuations." The Globe reported on Aug. 6, 2021, that Ms. Nattel rated Empire "sector perform," which was then worth $41.23. The Globe reported on Sept. 19, 2023, that Desjardins rated Empire "buy," which was then trading at $37.23.