The Globe and Mail reports in its Friday edition that Desjardins Securities analyst Chris Li has reaffirmed his "buy" recommendation for Loblaw. The Globe's David Leeder writes in the Eye On Equities column that Mr. Li's share target soared ahead by $15 to $148. Mr. Li says in a note: "We expect Loblaw to continue to outperform in the near term given its high earnings visibility and investors' preference for high-quality/defensive companies. ... Consumers have not significantly changed their behaviour and they continue to look for value. Management expects to see more of the same trends for food in 2024, with customers (1) buying more on promotions; (2) buying more private label; and (3) continuing the transition to discount. However, behaviour is slightly different at Shoppers Drug Mart, where customers are not as price-sensitive when it comes to buying premium beauty products. PC Optimum loyalty remains a key driver for purchasing behaviour, with double-digit increases in weekly active users in 2023. Management has noted a pick-up in point redemption activity overall as wallets remain pressured." The Globe reported on July 28 and Dec. 21 that Mr. Li was cautious on Loblaw when it was worth $116.75 and $125.17.