George Weston Ltd

WN: XTSE (CAN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	CAD 129.00	Hkzlp	Btvsmysjp

George Weston Earnings: Affordability Top of Mind for Canadian Shoppers in Tough Macroenvironment

Dan Su , Grace Na

Nov 21, 2023

We don’t plan a material change to our CAD 168 fair value estimate for no-moat George Weston, considering that third-quarter results from no-moat Loblaw, which provides 99% of revenue, matched our forecasts: Sales advanced 5% and adjusted EPS rose 12%. George Weston shares trade in a range we consider to be fully valued, and as such, we’d suggest investors remain on the sidelines.

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