George Weston Ltd

WN: XTSE (CAN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	CAD 192.00	Lysvp	Wwlmfqpv

No-Moat George Weston’s No-Moat Loblaw Business Sees Healthy Margins in an Inflationary Environment

Dan Wasiolek

May 10, 2022

With no-moat Loblaw (99% of George Weston total revenue) having already reported its first-quarter results, there was little new information for investors in no-moat George Weston’s results, especially since the company does not hold a conference call. While we might slightly increase our 2022 margin forecast, we do not plan a meaningful change to our George Weston CAD 155 fair value estimate, leaving shares appropriately valued.

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