Rogers Communications (TSE:RCI.B) Stock Price Expected to Rise, CIBC Analyst Says

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price objective lifted by equities researchers at CIBC from C$58.00 to C$60.00 in a research note issued on Tuesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. CIBC’s price target points to a potential upside of 18.62% from the stock’s current price.

A number of other equities analysts also recently weighed in on RCI.B. National Bankshares upped their price target on shares of Rogers Communications from C$59.00 to C$60.00 and gave the stock an “outperform” rating in a research note on Friday, October 24th. Barclays upped their target price on Rogers Communications from C$46.00 to C$50.00 in a research report on Monday, November 10th. JPMorgan Chase & Co. raised their price target on Rogers Communications from C$59.00 to C$62.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Desjardins boosted their price target on Rogers Communications from C$53.00 to C$56.00 and gave the company a “buy” rating in a research note on Friday, October 24th. Finally, TD Securities increased their price objective on Rogers Communications from C$62.00 to C$64.00 and gave the stock a “buy” rating in a report on Friday, October 24th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$57.56.

Rogers Communications Stock Down 0.1%

RCI.B traded down C$0.05 on Tuesday, reaching C$50.58. 254,164 shares of the company traded hands, compared to its average volume of 1,945,930. The company has a market cap of C$27.32 billion, a price-to-earnings ratio of 4.06, a PEG ratio of 0.32 and a beta of 0.88. The company has a debt-to-equity ratio of 436.50, a current ratio of 0.65 and a quick ratio of 0.58. The stock’s 50 day moving average price is C$52.71 and its 200-day moving average price is C$47.41. Rogers Communications has a 52-week low of C$32.42 and a 52-week high of C$56.15.

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.