Rogers Communications (TSE:RCI.B) Upgraded to Buy at Canaccord Genuity Group

Rogers Communications (TSE:RCI.B – Get Rating) (NYSE:RCI) was upgraded by research analysts at Canaccord Genuity Group to a “buy” rating in a research report issued to clients and investors on Tuesday, TipRanks reports. The firm currently has a C$69.00 target price on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 12.27% from the stock’s previous close.

Several other equities research analysts also recently issued reports on the stock. CIBC raised their price objective on shares of Rogers Communications from C$68.00 to C$80.00 in a research report on Thursday, April 21st. Royal Bank of Canada raised their price objective on shares of Rogers Communications from C$75.00 to C$77.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 21st. Cormark raised their price objective on shares of Rogers Communications from C$79.00 to C$86.00 and gave the stock a “buy” rating in a research report on Thursday, April 21st. National Bankshares raised their price objective on shares of Rogers Communications from C$77.00 to C$83.00 and gave the stock an “outperform” rating in a research report on Thursday, April 21st. Finally, BMO Capital Markets raised their price objective on shares of Rogers Communications from C$76.00 to C$80.00 in a research report on Thursday, April 21st. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of C$77.83.

RCI.B stock traded down C$1.02 during mid-day trading on Tuesday, hitting C$61.46. 385,633 shares of the company were exchanged, compared to its average volume of 1,709,706. The business has a 50 day simple moving average of C$66.80 and a 200-day simple moving average of C$65.35. The company has a current ratio of 2.39, a quick ratio of 0.57 and a debt-to-equity ratio of 324.87. The stock has a market capitalization of C$31.03 billion and a PE ratio of 19.54. Rogers Communications has a 1-year low of C$56.00 and a 1-year high of C$80.85.

About Rogers Communications (Get Rating)

Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The Wireless segment offers wireless voice and data communication services to individual consumers, businesses, governments, and other telecommunications service providers; postpaid and prepaid wireless services under the Rogers, Fido, and chatr brands; and wireless devices, services, and applications to consumers and businesses.

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