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Section1: Company Overview
George Weston Limited (TSX: WN) is a holding company that operates through two subsidiaries encompassing retail and real estate. The first is Loblaw, the largest grocer in Canada, in which it has a 53% controlling stake. The second is Choice Properties, an open-ended real estate investment trust, where George Weston's ownership sits close to 62%.
This Report covers the Key Recommendation Rationale, Valuation, Target Price, and Recommendation on the stock.
Section 2: Stock Recommendation Summary
Valuation Methodology (Illustrative): EV to Sales based Relative Valuation approach:
The stock has witnessed an upside of ~6.25% and ~6.69% over the 1 week and 1 month respectively. The stock is trading above the average of 52-week high price of CAD 93.62 and 52-week low price of CAD 70.92, providing an opportunity to exit, as the stock might make some correction.
One-Year Technical Price Chart (as of November 14, 2025). Source: REFINITIV, Analysis: Kalkine Group
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels as on November 14, 2025. The reference data in this report has been partly sourced from REFINITIV.
Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.
Note 4: Dividend Yield may vary as per the stock price movement.
Note 5: Kalkine reports are prepared based on the stock prices captured either from REFINITIV or Trading View. Typically, REFINITIV or Trading View may reflect stock prices with a delay which could be a lag of 25-30 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.
This report (“Report”) has been issued by Kalkine New Zealand Limited (FSP691351) (NZBN:9429047678101) (“Kalkine”). Kalkine is a Financial Advice Provider (“FAP”) and is authorised by a Class 1 Financial Advice Provider Licence issued by Financial Markets Authority (“FMA”) to provide financial advice. Kalkine provides only general financial advice through its research reports following a person becoming a member. The reports contain buy/sell/hold and other recommendations in relation to equity securities, managed funds and other managed investment schemes and other financial advice products. The recommendations and opinions in this Report and on Kalkine website do not take into account any of your investment objectives, financial situation or needs. Before you make a decision about whether to acquire a financial product, you should obtain the Product Disclosure Statement from the product issuer. You should consider the appropriateness of advice taking into account your own objectives, financial situation and needs and seek independent financial advice before making any financial decisions. If you act on the advice in the research reports, you may have to pay fees, expenses or other amounts (but not to Kalkine).
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Past performance is not a reliable indicator of future performance.
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