BMO Capital Markets Upgrades Quebecor (TSE:QBR.B) to “Outperform”

Quebecor (TSE:QBR.B) was upgraded by analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has a C$47.00 price objective on the stock, up from their prior price objective of C$40.00. BMO Capital Markets’ price target would indicate a potential upside of 8.10% from the stock’s previous close.

Several other research analysts have also issued reports on the stock. Canaccord Genuity Group raised their price target on shares of Quebecor from C$40.75 to C$43.25 in a report on Thursday, July 10th. TD Securities raised their price target on shares of Quebecor from C$44.00 to C$46.00 and gave the stock a “buy” rating in a report on Tuesday, June 24th. Desjardins lowered their price target on shares of Quebecor from C$44.00 to C$43.00 and set a “buy” rating for the company in a report on Friday, August 8th. Finally, National Bankshares upgraded shares of Quebecor from a “sector perform” rating to an “outperform” rating and set a C$42.00 price target for the company in a report on Tuesday, August 12th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$42.22.

Quebecor Stock Down 0.9%

Shares of TSE QBR.B opened at C$43.48 on Thursday. The company has a 50 day simple moving average of C$40.43 and a 200 day simple moving average of C$38.21. The firm has a market cap of C$9.98 billion, a PE ratio of 13.02, a price-to-earnings-growth ratio of 1.43 and a beta of 0.64. Quebecor has a 1 year low of C$30.02 and a 1 year high of C$44.20. The company has a debt-to-equity ratio of 363.97, a current ratio of 1.01 and a quick ratio of 0.35.

About Quebecor

Quebecor primarily provides mobile and fixed-line telecom services in Quebec where it is the leading telecom provider. With more than 1.8 million internet subscribers Quebecor provides internet service to more than 60% of the homes its network passes. It also has about 1.6 million mobile subscribers representing more than 20% wireless market share in Quebec.