The Globe and Mail reports in its Tuesday, Feb. 27, edition that National Bank analyst Vishal Shreedhar has reaffirmed his "sector perform" recommendation for Empire. The Globe's David Leeder writes that Mr. Shreedhar cut his share target back by a loonie to $41. Analysts on average target the shares at $40.13. When Empire reports its third quarter 2024 financial results on March 14, Mr. Shreedhar expects to see evidence of conventional grocery stores lagging the growth of their discount peers as "pressured consumer spending continues to weigh." Mr. Shreedhar says in a note: "We remain cautious as we look for confirmation that Empire can sustainably build business momentum. Our review of peer commentary indicates trends are a continuation of prior quarters, which could weigh on Empire's near-term performance. Specifically, our review suggests: (i) A continued focus on value (private label, high promotional penetration and shift to discount); and (ii) A moderation in cost increase requests from suppliers (our view is that it remains higher than historical levels)." Mr. Shreedhar projects consolidated earnings per share for the quarter of 63 cents, which is five cents lower than the consensus on the Street."