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 Loblaw by $5 to $174. She rates Loblaw "outperform." Analysts on average target the shares at $193.14. 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. ... We reiterate our view that Loblaw is best positioned to benefit from the secular shift in purchasing patterns." 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 Nov. 8, 2022, that Ms. Nattel continued to rate Loblaw "outperform." The shares could then be had for $113.74.