Scotiabank Forecasts Strong Price Appreciation for Cogeco Communications (TSE:CCA) Stock

Cogeco Communications (TSE:CCA) had its price target lifted by stock analysts at Scotiabank from C$73.50 to C$77.50 in a research report issued on Monday, BayStreet.CA reports. Scotiabank’s target price indicates a potential upside of 9.56% from the company’s current price.

CCA has been the subject of a number of other research reports. BMO Capital Markets raised their price objective on Cogeco Communications from C$65.00 to C$70.00 in a research report on Thursday, September 5th. Royal Bank of Canada raised their price objective on shares of Cogeco Communications from C$76.00 to C$79.00 in a report on Thursday, October 10th. Bank of America raised shares of Cogeco Communications from an “underperform” rating to a “buy” rating and upped their target price for the company from C$60.00 to C$65.00 in a research note on Wednesday, July 17th. National Bankshares upgraded shares of Cogeco Communications from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from C$64.00 to C$80.00 in a research note on Friday, September 20th. Finally, TD Securities boosted their price target on Cogeco Communications from C$85.00 to C$89.00 in a research note on Monday. Five research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Cogeco Communications currently has a consensus rating of “Moderate Buy” and a consensus price target of C$75.50.

Cogeco Communications Stock Up 1.1 %

Shares of CCA opened at C$70.74 on Monday. Cogeco Communications has a 52 week low of C$50.78 and a 52 week high of C$72.40. The firm has a market capitalization of C$2.12 billion, a P/E ratio of 9.02, a P/E/G ratio of 4.77 and a beta of 0.59. The company has a 50-day simple moving average of C$68.15 and a 200-day simple moving average of C$60.63. The company has a debt-to-equity ratio of 142.88, a quick ratio of 0.49 and a current ratio of 0.41.

Cogeco Communications Company Profile

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.