JPMorgan Chase & Co. Increases Rogers Communications (TSE:RCI.B) Price Target to C$55.00

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its target price increased by research analysts at JPMorgan Chase & Co. from C$53.00 to C$55.00 in a research report issued on Thursday,BayStreet.CA reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 56.16% from the company’s current price.

A number of other research firms have also recently commented on RCI.B. Barclays cut Rogers Communications from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from C$63.00 to C$39.00 in a research note on Thursday, January 30th. TD Securities lowered their target price on Rogers Communications from C$60.00 to C$56.00 and set a “buy” rating for the company in a report on Thursday, April 24th. UBS Group cut their price target on shares of Rogers Communications from C$66.00 to C$63.00 in a research note on Tuesday, April 1st. Royal Bank of Canada dropped their price objective on shares of Rogers Communications from C$57.00 to C$54.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Finally, National Bankshares decreased their price target on shares of Rogers Communications from C$53.00 to C$52.00 and set an “outperform” rating for the company in a research report on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$55.50.

Rogers Communications Price Performance

Shares of RCI.B opened at C$35.22 on Thursday. The firm has a 50-day simple moving average of C$37.46 and a two-hundred day simple moving average of C$42.98. The stock has a market cap of C$14.85 billion, a PE ratio of 21.61, a P/E/G ratio of 0.32 and a beta of 0.62. Rogers Communications has a 1-year low of C$32.42 and a 1-year high of C$56.55. The company has a debt-to-equity ratio of 436.50, a current ratio of 0.65 and a quick ratio of 0.58.

About Rogers Communications

Rogers is the largest wireless service provider in Canada, with its more than 10 million subscribers equating to one third of the total Canadian market. Rogers’ wireless business accounted for 60% of the company’s total sales in 2021 and has increasingly provided a bigger portion of total company sales over the last several years.