TD Upgrades Rogers Communications (TSE:RCI.B) to Buy

Rogers Communications (TSE:RCI.B) (NYSE:RCI) was upgraded by TD from a “hold” rating to a “buy” rating in a note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has a C$60.00 price objective on the stock, up from their previous price objective of C$56.00. TD’s price objective suggests a potential upside of 21.80% from the stock’s current price.

Several other equities analysts have also recently issued reports on RCI.B. TD Securities cut Rogers Communications from a “buy” rating to a “hold” rating and reduced their price objective for the stock from C$65.00 to C$56.00 in a report on Thursday, April 2nd. JPMorgan Chase & Co. reduced their price objective on Rogers Communications from C$65.00 to C$63.00 in a report on Wednesday, April 1st. Scotia raised Rogers Communications from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the stock from C$57.75 to C$60.50 in a report on Thursday. Scotiabank cut their price target on 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, Desjardins cut their price target on Rogers Communications from C$55.00 to C$54.50 and set a “hold” rating for the company in a report on Tuesday, April 7th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$58.33.

Rogers Communications Stock Performance

Shares of RCI.B stock opened at C$49.26 on Thursday. The stock has a fifty day moving average price of C$51.38 and a 200 day moving average price of C$51.72. The stock has a market cap of C$26.61 billion, a PE ratio of 3.87, a P/E/G ratio of 0.32 and a beta of 0.96. Rogers Communications has a 1 year low of C$34.19 and a 1 year high of C$56.27. The company has a debt-to-equity ratio of 436.50, a quick ratio of 0.58 and a current ratio of 0.65.

More 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

About Rogers Communications

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.