BMO Capital Markets Forecasts Strong Price Appreciation for Cogeco Communications (TSE:CCA) Stock

Cogeco Communications (TSE:CCA) had its price objective hoisted by stock analysts at BMO Capital Markets from C$70.00 to C$80.00 in a report issued on Monday, BayStreet.CA reports. BMO Capital Markets’ price objective would indicate a potential upside of 13.09% from the company’s current price.

CCA has been the subject of several other reports. Desjardins lifted their target price on shares of Cogeco Communications from C$64.00 to C$69.00 and gave the company a “hold” rating in a report on Monday, July 15th. Bank of America raised Cogeco Communications from an “underperform” rating to a “buy” rating and raised their price objective for the company from C$60.00 to C$65.00 in a research report on Wednesday, July 17th. Royal Bank of Canada boosted their target price on Cogeco Communications from C$76.00 to C$79.00 in a report on Thursday, October 10th. National Bankshares upgraded Cogeco Communications from a “sector perform” rating to an “outperform” rating and raised their price target for the company from C$64.00 to C$80.00 in a report on Friday, September 20th. Finally, National Bank Financial raised Cogeco Communications from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 19th. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of C$75.50.

Cogeco Communications Stock Up 1.1 %

Shares of Cogeco Communications stock opened at C$70.74 on Monday. Cogeco Communications has a 1 year low of C$50.78 and a 1 year high of C$72.40. The company has a debt-to-equity ratio of 142.88, a current ratio of 0.41 and a quick ratio of 0.49. The company has a 50-day moving average of C$68.15 and a 200 day moving average of C$60.63. The firm has a market cap of C$2.12 billion, a price-to-earnings ratio of 9.02, a PEG ratio of 4.77 and a beta of 0.59.

About Cogeco Communications

Cogeco Communications Inc operates as a telecommunications corporation in Canada and the United States. It operates in two segments, Canadian Telecommunications and American Telecommunications. The company offers Internet, video, and Internet protocol (IP) based telephony services to residential and small business customers through its two-way broadband fiber networks.