Rogers Communications (TSE:RCI.B) Price Target Raised to C$65.00

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its target price hoisted by TD from C$60.00 to C$65.00 in a research report sent to investors on Thursday morning,BayStreet.CA reports. The firm currently has a buy rating on the stock.

Several other equities research analysts have also recently weighed in on RCI.B. Scotia raised Rogers Communications from a “sector perform” rating to a “sector outperform” rating and upped their price target for the stock from C$57.75 to C$60.50 in a research note on Thursday, April 23rd. JPMorgan Chase & Co. raised their price objective on Rogers Communications from C$63.00 to C$65.00 in a research report on Monday, April 27th. Scotiabank boosted their target price on shares of Rogers Communications from C$60.50 to C$61.00 and gave the company a “sector outperform” rating in a report on Tuesday, July 7th. National Bank Financial reduced their target price on shares of Rogers Communications from C$63.00 to C$62.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 7th. Finally, Canaccord Genuity Group decreased their price target on shares of Rogers Communications from C$58.00 to C$57.50 and set a “buy” rating for the company in a research note on Thursday. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$59.00.

Rogers Communications Stock Up 0.4%

Shares of TSE:RCI.B opened at C$46.20 on Thursday. Rogers Communications has a 52-week low of C$44.21 and a 52-week high of C$56.27. The firm has a market capitalization of C$24.96 billion, a P/E ratio of 4.05, a P/E/G ratio of 0.32 and a beta of 0.95. The stock has a 50 day moving average price of C$49.88 and a 200-day moving average price of C$50.54. 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 raised its price target on Rogers Communications to C$65.00 from C$60.00 and kept a buy rating, signaling stronger upside expectations. BayStreet.CA
• Positive Sentiment: Royal Bank of Canada initiated coverage with an outperform rating and a C$60.00 target, also implying meaningful upside from the current share price. BayStreet.CA
• Positive Sentiment: Canaccord Genuity trimmed its target only slightly to C$57.50 from C$58.00 while maintaining a buy rating, which is still a constructive view on the stock. BayStreet.CA
• Neutral Sentiment: Desjardins started coverage with a hold rating and a C$58.00 target, suggesting upside potential but a more cautious stance on near-term performance. BayStreet.CA
• Negative Sentiment: Morgan Stanley reportedly lowered expectations for Rogers Communications’ stock, which may have tempered enthusiasm despite the other upgrades. American Banking News

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.