Canaccord Genuity Group Upgrades Cogeco Communications (TSE:CCA) to Buy

Cogeco Communications (TSE:CCA) was upgraded by stock analysts at Canaccord Genuity Group from a “hold” rating to a “buy” rating in a note issued to investors on Monday, BayStreet.CA reports. The firm presently has a C$77.00 price target on the stock, up from their previous price target of C$65.00. Canaccord Genuity Group’s target price points to a potential upside of 8.85% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. National Bank Financial upgraded Cogeco Communications from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 19th. BMO Capital Markets raised their price target on shares of Cogeco Communications from C$65.00 to C$70.00 in a report on Thursday, September 5th. National Bankshares upgraded shares of Cogeco Communications from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from C$64.00 to C$80.00 in a report on Friday, September 20th. Royal Bank of Canada boosted their target price on Cogeco Communications from C$76.00 to C$79.00 in a research report on Thursday, October 10th. Finally, Scotiabank increased their price target on Cogeco Communications from C$73.50 to C$77.50 in a report on Monday. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Cogeco Communications has a consensus rating of “Moderate Buy” and a consensus target price of C$75.50.

Cogeco Communications Price Performance

CCA stock opened at C$70.74 on Monday. The company has a quick ratio of 0.49, a current ratio of 0.41 and a debt-to-equity ratio of 142.88. The firm has a market cap of C$2.12 billion, a price-to-earnings ratio of 9.02, a PEG ratio of 4.77 and a beta of 0.59. The company’s fifty day simple moving average is C$68.15 and its 200 day simple moving average is C$60.63. Cogeco Communications has a 12-month low of C$50.78 and a 12-month high of C$72.40.

About Cogeco Communications

Cogeco Communications Inc operates as a telecommunications corporation in Canada and the United States. It operates in two segments, Canadian Telecommunications and American Telecommunications. The company offers Internet, video, and Internet protocol (IP) based telephony services to residential and small business customers through its two-way broadband fiber networks.