Morgan Stanley Boosts Rogers Communications (TSE:RCI.B) Price Target to C$50.00

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price objective boosted by investment analysts at Morgan Stanley from C$46.00 to C$50.00 in a note issued to investors on Wednesday,BayStreet.CA reports. Morgan Stanley’s target price would indicate a potential upside of 1.01% from the stock’s previous close.

Several other brokerages also recently commented on RCI.B. Barclays lifted their price target on Rogers Communications from C$46.00 to C$50.00 in a research report on Monday, November 10th. JPMorgan Chase & Co. increased their price target on shares of Rogers Communications from C$59.00 to C$62.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. CIBC raised 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 research report on Tuesday. National Bankshares upped their price objective on shares of Rogers Communications from C$59.00 to C$60.00 and gave the company an “outperform” rating in a research report on Friday, October 24th. Finally, TD Securities increased their target price on shares of Rogers Communications from C$62.00 to C$64.00 and gave the company a “buy” rating in a research note on Friday, October 24th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$57.06.

Rogers Communications Stock Performance

Rogers Communications stock traded down C$1.19 on Wednesday, reaching C$49.50. 859,081 shares of the stock were exchanged, compared to its average volume of 1,945,329. The company has a current ratio of 0.65, a quick ratio of 0.58 and a debt-to-equity ratio of 436.50. Rogers Communications has a twelve month low of C$32.42 and a twelve month high of C$56.15. The firm has a fifty day moving average price of C$52.77 and a two-hundred day moving average price of C$47.52. The stock has a market cap of C$26.74 billion, a PE ratio of 3.97, a PEG ratio of 0.32 and a beta of 0.88.

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.