CIBC Raises Rogers Communications (TSE:RCI.B) Price Target to C$80.00

Rogers Communications (TSE:RCI.BGet Rating) (NYSE:RCI) had its target price boosted by equities research analysts at CIBC from C$68.00 to C$80.00 in a research note issued to investors on Thursday, BayStreet.CA reports. CIBC’s price target points to a potential upside of 6.79% from the company’s current price.

A number of other research analysts have also recently commented on RCI.B. Desjardins raised shares of Rogers Communications to a “buy” rating and set a C$72.00 target price for the company in a report on Friday, January 28th. Royal Bank of Canada increased their target price on shares of Rogers Communications from C$72.00 to C$75.00 in a report on Monday, April 11th. TD Securities raised their price objective on shares of Rogers Communications from C$70.00 to C$75.00 and gave the company a “buy” rating in a report on Friday, January 28th. BMO Capital Markets raised their price objective on shares of Rogers Communications from C$68.00 to C$72.00 in a report on Friday, January 28th. Finally, Cormark raised their price objective on shares of Rogers Communications from C$79.00 to C$86.00 in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Rogers Communications currently has a consensus rating of “Buy” and an average price target of C$77.85.

Shares of RCI.B stock traded down C$1.16 on Thursday, reaching C$74.91. The company had a trading volume of 504,709 shares, compared to its average volume of 1,640,958. The stock has a market capitalization of C$37.82 billion and a PE ratio of 24.38. The company has a quick ratio of 0.56, a current ratio of 0.68 and a debt-to-equity ratio of 216.91. Rogers Communications has a one year low of C$56.00 and a one year high of C$80.85. The business’s 50-day moving average is C$69.14 and its 200 day moving average is C$63.36.

About Rogers Communications (Get Rating)

Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The Wireless segment offers wireless voice and data communication services to individual consumers, businesses, governments, and other telecommunications service providers; postpaid and prepaid wireless services under the Rogers, Fido, and chatr brands; and wireless devices, services, and applications to consumers and businesses.

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