Rogers Communications (TSE:RCI.B) Given New C$64.00 Price Target at TD Securities

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price target lifted by research analysts at TD Securities from C$63.00 to C$64.00 in a research note issued on Thursday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. TD Securities’ price target indicates a potential upside of 58.93% from the company’s current price.

Several other research firms have also issued reports on RCI.B. Barclays cut Rogers Communications from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from C$63.00 to C$39.00 in a research report on Thursday, January 30th. Canaccord Genuity Group reduced their target price on shares of Rogers Communications from C$55.00 to C$46.00 in a report on Tuesday, January 7th. Royal Bank of Canada lowered their price target on shares of Rogers Communications from C$66.00 to C$61.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. Bank of America reduced their price objective on Rogers Communications from C$55.00 to C$50.00 in a report on Monday, February 3rd. Finally, Desjardins decreased their price objective on Rogers Communications from C$68.00 to C$61.00 and set a “buy” rating on the stock in a report on Thursday, November 28th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$60.31.

Rogers Communications Trading Up 1.6 %

Shares of RCI.B stock traded up C$0.62 on Thursday, reaching C$40.27. 547,088 shares of the stock were exchanged, compared to its average volume of 2,186,740. The stock has a 50 day moving average price of C$43.18 and a 200 day moving average price of C$49.57. The company has a debt-to-equity ratio of 436.50, a current ratio of 0.65 and a quick ratio of 0.58. Rogers Communications has a one year low of C$37.97 and a one year high of C$62.05. The stock has a market cap of C$16.98 billion, a PE ratio of 24.71, a P/E/G ratio of 0.32 and a beta of 0.62.

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.