Canaccord Genuity Group Increases Rogers Communications (TSE:RCI.B) Price Target to C$58.00

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price target raised by equities research analysts at Canaccord Genuity Group from C$55.00 to C$58.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 17.74% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the company. TD Securities cut Rogers Communications from a “buy” rating to a “hold” rating and dropped their price objective for the company from C$65.00 to C$56.00 in a report on Thursday, April 2nd. Scotiabank reduced their target price on Rogers Communications from C$58.00 to C$57.75 and set a “sector perform” rating on the stock in a research note on Tuesday, January 20th. Desjardins lowered their target price on shares of Rogers Communications from C$55.00 to C$54.50 and set a “hold” rating for the company in a research note on Tuesday, April 7th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Rogers Communications from C$65.00 to C$63.00 in a research note on Wednesday, April 1st. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of C$58.33.

Rogers Communications Stock Performance

TSE:RCI.B opened at C$49.26 on Thursday. The stock’s fifty day moving average is C$51.38 and its 200 day moving average is C$51.72. Rogers Communications has a fifty-two week low of C$34.19 and a fifty-two week high of C$56.27. The firm has a market capitalization of C$26.61 billion, a PE ratio of 3.87, a PEG ratio of 0.32 and a beta of 0.96. The company has a debt-to-equity ratio of 436.50, a quick ratio of 0.58 and a current ratio of 0.65.

Key Rogers Communications News

Here are the key news stories impacting Rogers Communications this week:

• Positive Sentiment: TD upgraded Rogers from “hold” to “buy” and lifted its target to C$60 (from C$56), implying meaningful upside versus recent prices. BayStreet.CA
• Positive Sentiment: Scotia moved Rogers to “sector outperform” and raised its target to C$60.50 (from C$57.75), signaling stronger conviction among sector analysts. BayStreet.CA TickerReport
• Positive Sentiment: RBC bumped its target to C$63 (from C$61) and keeps an “outperform” view — one of the higher targets among national brokers. BayStreet.CA
• Positive Sentiment: Canaccord raised its target to C$58 (from C$55) and maintains a “buy” rating, adding to the upgrade momentum. BayStreet.CA
• Positive Sentiment: National Bank increased its target to C$62 (from C$60) and rates Rogers “outperform,” another endorsement from a major dealer. BayStreet.CA
• Positive Sentiment: CIBC raised its target to C$62 (from C$61) and lists Rogers as an “outperformer,” reinforcing the consensus tilt higher. BayStreet.CA TickerReport
• Neutral Sentiment: Desjardins lifted its target to C$59 (from C$54.50) but kept a “hold” rating — a sign some analysts see upside but remain cautious. BayStreet.CA
• Negative Sentiment: Offsetting the analyst momentum are fundamentals and technicals that may limit upside: Rogers carries very high leverage (debt-to-equity is elevated) and the share price remains below its 50- and 200-day moving averages — factors that can weigh on sentiment despite higher targets. Background / Analyst Roundup

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.