Q: I have a question about Empire. I noticed the CEO buying since the stock has taken a dip. It looks like a good, safe call. What do you guys think? What do you think a good buy price at and if so what price would you sell at? Thank you as always.
5i Research Answer:
We try not to use target sell prices too much as it typically results in investors too early. Often, there are valid reasons for a move and selling just because a stock hits a somewhat random price does not make sense to us. EMP.A is a quality stable company doing well. Its recent dip makes it more attractive, and insider buying is positive. We would be quite comfortable buying in the $48.50 range. We would review it on news items or if it rose to $55+. Lower interest rates should help the stock.