Desjardins Upgrades Rogers Communications (TSE:RCI.B) to Buy

Rogers Communications (TSE:RCI.B) (NYSE:RCI) was upgraded by equities research analysts at Desjardins from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, BayStreet.CA reports. The firm presently has a C$69.00 target price on the stock, up from their previous target price of C$66.50. Desjardins’ price objective would suggest a potential upside of 21.20% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. Scotiabank lifted their target price on shares of Rogers Communications from C$68.00 to C$69.50 and gave the company an “outperform” rating in a research report on Friday. CIBC lifted their target price on shares of Rogers Communications from C$67.00 to C$69.00 and gave the stock an “outperform” rating in a research report on Friday. Cormark lowered their price objective on Rogers Communications from C$78.00 to C$76.00 in a research report on Friday. UBS Group lowered their price objective on shares of Rogers Communications from C$75.00 to C$70.00 in a research note on Tuesday, October 10th. Finally, TD Securities raised their price target on Rogers Communications from C$81.00 to C$82.00 and gave the stock an “action list buy” rating in a research note on Friday. Seven analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Rogers Communications presently has a consensus rating of “Buy” and a consensus price target of C$73.04.

Rogers Communications Stock Down 0.3 %

RCI.B opened at C$56.93 on Friday. Rogers Communications has a one year low of C$50.15 and a one year high of C$67.67. The company has a fifty day moving average price of C$53.55 and a 200-day moving average price of C$57.57. The company has a debt-to-equity ratio of 399.46, a current ratio of 0.65 and a quick ratio of 0.58. The firm has a market capitalization of C$23.76 billion, a P/E ratio of 19.36, a price-to-earnings-growth ratio of 0.92 and a beta of 0.47.

About Rogers Communications

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.