TD Securities Forecasts Strong Price Appreciation for Rogers Communications (TSE:RCI.B) Stock

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price target hoisted by TD Securities from C$64.00 to C$67.00 in a research report issued on Friday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. TD Securities’ price objective suggests a potential upside of 30.35% from the stock’s current price.

A number of other analysts have also commented on the company. Morgan Stanley lifted their price target on Rogers Communications from C$46.00 to C$50.00 in a report on Wednesday, December 10th. Desjardins decreased their target price on Rogers Communications from C$57.00 to C$55.00 and set a “hold” rating for the company in a research report on Monday, January 12th. CIBC boosted their price target on shares of Rogers Communications from C$58.00 to C$60.00 and gave the stock an “outperform” rating in a report on Tuesday, December 9th. Scotiabank decreased their price objective on shares of Rogers Communications from C$58.00 to C$57.75 and set a “sector perform” rating for the company in a report on Tuesday, January 20th. Finally, Canaccord Genuity Group lifted their price objective on shares of Rogers Communications from C$55.00 to C$57.00 and gave the stock a “buy” rating in a research report on Friday. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Rogers Communications presently has a consensus rating of “Moderate Buy” and a consensus price target of C$57.13.

Rogers Communications Price Performance

Rogers Communications stock opened at C$51.40 on Friday. Rogers Communications has a 52 week low of C$32.42 and a 52 week high of C$56.15. The company’s 50 day moving average price is C$51.28 and its two-hundred day moving average price is C$50.40. The stock has a market cap of C$27.77 billion, a P/E ratio of 4.03, a P/E/G ratio of 0.32 and a beta of 1.03. The company has a quick ratio of 0.58, a current ratio of 0.65 and a debt-to-equity ratio of 436.50.

Rogers Communications Company Profile

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. Rogers’ cable segment, which provides about one fourth of total sales, offers home internet, television, and landline phone service to consumers and businesses. Remaining sales come from Rogers’ media unit, which owns and operates various television and radio stations and the Toronto Blue Jays.