TD Securities Forecasts Strong Price Appreciation for Cogeco (TSE:CGO) Stock

Cogeco (TSE:CGO) had its target price increased by equities researchers at TD Securities from C$110.00 to C$120.00 in a research report issued on Friday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. TD Securities’ price objective would indicate a potential upside of 67.69% from the stock’s current price.

Separately, CIBC decreased their price objective on Cogeco from C$64.00 to C$61.00 in a report on Friday, October 17th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of C$93.00.

Cogeco Stock Performance

TSE:CGO opened at C$71.56 on Friday. The firm’s 50-day moving average is C$63.57 and its 200-day moving average is C$62.00. The company has a market cap of C$677.53 million, a price-to-earnings ratio of 8.28, a PEG ratio of -0.28 and a beta of 0.54. The company has a debt-to-equity ratio of 605.15, a quick ratio of 0.51 and a current ratio of 0.40. Cogeco has a 52-week low of C$51.56 and a 52-week high of C$72.62.

Cogeco (TSE:CGO) last released its earnings results on Wednesday, January 14th. The company reported C$3.00 earnings per share for the quarter. Cogeco had a return on equity of 11.28% and a net margin of 3.00%.The business had revenue of C$735.64 million for the quarter. Equities research analysts anticipate that Cogeco will post 11.054717 earnings per share for the current year.

About Cogeco

Cogeco Inc is a telecommunications company. The company has two reportable operating segments, namely Canadian broadband services and American broadband services. The Canadian and American broadband services segments provide a wide range of Internet, video, and telephony services primarily to residential customers, as well as business services across their coverage areas. The Canadian broadband services activities are carried out by Cogeco Connexion in the provinces of Quebec and Ontario and the American broadband services activities are carried out by Atlantic Broadband in 12 states.