CIBC Forecasts Strong Price Appreciation for Quebecor (TSE:QBR.B) Stock

Quebecor (TSE:QBR.B) had its price target lifted by equities research analysts at CIBC from C$46.00 to C$49.00 in a note issued to investors on Friday,BayStreet.CA reports. CIBC’s price objective would indicate a potential upside of 14.22% from the company’s current price.

QBR.B has been the topic of several other research reports. National Bankshares upped their price target on Quebecor from C$42.00 to C$45.00 and gave the company an “outperform” rating in a report on Wednesday, September 17th. Desjardins upped their price target on Quebecor from C$43.00 to C$47.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Royal Bank Of Canada cut Quebecor from an “outperform” rating to a “sector perform” rating and upped their price target for the company from C$45.00 to C$46.00 in a report on Wednesday. BMO Capital Markets raised Quebecor from a “market perform” rating to an “outperform” rating and upped their price target for the company from C$40.00 to C$47.00 in a report on Thursday, September 4th. Finally, TD Securities upped their price target on Quebecor from C$44.00 to C$46.00 and gave the company a “buy” rating in a report on Tuesday, June 24th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$44.97.

Quebecor Stock Performance

QBR.B opened at C$42.90 on Friday. The company has a market capitalization of C$9.84 billion, a price-to-earnings ratio of 12.84, a price-to-earnings-growth ratio of 1.43 and a beta of 0.54. Quebecor has a 1-year low of C$30.02 and a 1-year high of C$45.31. The business has a 50 day moving average price of C$42.52 and a two-hundred day moving average price of C$39.96. 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.