Cogeco (TSE:CGO) Stock Rating Upgraded by CIBC

Cogeco (TSE:CGOGet Rating) was upgraded by equities researchers at CIBC from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Friday, BayStreet.CA reports. The brokerage currently has a C$106.00 target price on the stock, up from their previous target price of C$101.00. CIBC’s target price indicates a potential upside of 26.34% from the company’s previous close.

Separately, TD Securities upped their price target on Cogeco from C$130.00 to C$135.00 and gave the stock a “buy” rating in a research note on Monday.

Shares of CGO traded down C$0.59 during mid-day trading on Friday, hitting C$83.90. 4,791 shares of the company’s stock traded hands, compared to its average volume of 18,523. The firm has a market capitalization of C$1.34 billion and a P/E ratio of 9.59. The business’s 50-day moving average price is C$78.68 and its 200-day moving average price is C$80.47. Cogeco has a 1 year low of C$75.50 and a 1 year high of C$99.54. The company has a quick ratio of 0.62, a current ratio of 0.86 and a debt-to-equity ratio of 160.55.

About Cogeco (Get Rating)

Cogeco Inc, through its subsidiaries, operates in the communications and media sectors in Canada and the United States. The company operates in two segments, Communications and Other. The Communications segment provides a range of Internet, video, and telephony services through its two-way broadband fiber networks primarily to residential customers, as well as to small and medium sized businesses under the Cogeco Connexion name in Quebec and Ontario; and Atlantic Broadband brand in the United States.

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