Desjardins Forecasts Strong Price Appreciation for Cogeco Communications (TSE:CCA) Stock

Cogeco Communications (TSE:CCA) had its price target hoisted by equities research analysts at Desjardins from C$72.00 to C$74.00 in a research note issued on Thursday,BayStreet.CA reports. Desjardins’ target price would indicate a potential upside of 2.41% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. Royal Bank Of Canada upped their target price on shares of Cogeco Communications from C$77.00 to C$78.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 9th. Canaccord Genuity Group upped their target price on shares of Cogeco Communications from C$76.00 to C$77.00 and gave the company a “buy” rating in a research report on Friday, April 11th. National Bankshares set a C$85.00 target price on shares of Cogeco Communications and gave the company an “outperform” rating in a research report on Friday, June 6th. Finally, Scotiabank set a C$75.00 target price on shares of Cogeco Communications and gave the company a “sector perform” rating in a research report on Thursday, April 17th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$77.10.

Cogeco Communications Trading Down 0.5%

Shares of CCA opened at C$72.26 on Thursday. The firm has a 50-day moving average price of C$68.99 and a 200 day moving average price of C$66.74. Cogeco Communications has a 12-month low of C$53.50 and a 12-month high of C$75.09. The company has a current ratio of 0.37, a quick ratio of 0.49 and a debt-to-equity ratio of 159.35. The firm has a market capitalization of C$3.04 billion, a P/E ratio of 8.75, a P/E/G ratio of 4.77 and a beta of 0.59.

About Cogeco Communications

Cogeco Communications Inc is a communication corporation. The company is a cable operator in North America operating in Canada. It provides residential and business customers with internet, video, and telephony services with broadband fibre networks. The reportable segments of the company are Canadian broadband services and American broadband services.