Rogers Communications (TSE:RCI.B) Raised to Sector Outperform at Scotia

Rogers Communications (TSE:RCI.B) (NYSE:RCI) was upgraded by stock analysts at Scotia from a “sector perform” rating to a “sector outperform” rating in a research report issued on Thursday,BayStreet.CA reports. The brokerage currently has a C$60.50 price target on the stock, up from their prior price target of C$57.75. Scotia’s price target would suggest a potential upside of 22.82% from the company’s previous close.

A number of other research analysts also recently issued reports on RCI.B. Canaccord Genuity Group raised their price target on Rogers Communications from C$55.00 to C$58.00 and gave the stock a “buy” rating in a research note on Thursday. Canadian Imperial Bank of Commerce raised their price target on Rogers Communications from C$61.00 to C$62.00 and gave the stock an “outperformer” rating in a research note on Thursday. JPMorgan Chase & Co. dropped their price target on Rogers Communications from C$65.00 to C$63.00 in a research note on Wednesday, April 1st. National Bank Financial raised their price target on Rogers Communications from C$60.00 to C$62.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, TD Securities downgraded Rogers Communications from a “buy” rating to a “hold” rating and dropped their price target for the stock from C$65.00 to C$56.00 in a research note on Thursday, April 2nd. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$58.33.

Rogers Communications Trading Down 3.7%

RCI.B opened at C$49.26 on Thursday. Rogers Communications has a one year low of C$34.19 and a one year high of C$56.27. The company has a market cap of C$26.61 billion, a P/E 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. The business’s 50-day simple moving average is C$51.38 and its 200-day simple moving average is C$51.72.

Trending Headlines about Rogers Communications

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.