Desjardins Reiterates C$58.00 Price Target for Rogers Communications (TSE:RCI.B)

Desjardins set a C$58.00 price target on Rogers Communications (TSE:RCI.B) (NYSE:RCI) in a research note released on Thursday,BayStreet.CA reports. The firm currently has a hold rating on the stock.

RCI.B has been the topic of several other research reports. Scotia raised shares of Rogers Communications from a “sector perform” rating to a “sector outperform” rating and increased their target price for the company from C$57.75 to C$60.50 in a research note on Thursday, April 23rd. Canaccord Genuity Group dropped 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. JPMorgan Chase & Co. upped their price target on shares of Rogers Communications from C$63.00 to C$65.00 in a report on Monday, April 27th. Scotiabank increased their price objective on shares of Rogers Communications from C$60.50 to C$61.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, July 7th. Finally, Raymond James Financial set a C$68.00 price objective on shares of Rogers Communications and gave the stock an “outperform” rating in a research report on Thursday, July 16th. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$59.00.

Rogers Communications Stock Up 0.4%

Shares of RCI.B opened at C$46.20 on Thursday. The company has a quick ratio of 0.58, a current ratio of 0.65 and a debt-to-equity ratio of 436.50. The business has a fifty day moving average of C$49.88 and a 200 day moving average of C$50.54. The company has a market cap of C$24.96 billion, a PE ratio of 4.05, a P/E/G ratio of 0.32 and a beta of 0.95. Rogers Communications has a 52-week low of C$44.21 and a 52-week high of C$56.27.

Rogers Communications News Summary

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

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.