TD Securities Forecasts Strong Price Appreciation for Rogers Communications (TSE:RCI.B) Stock

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price target raised by analysts at TD Securities from C$63.00 to C$64.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. TD Securities’ price target indicates a potential upside of 61.01% from the company’s previous close.

Other research analysts also recently issued research reports about the company. National Bankshares decreased their price objective on Rogers Communications from C$62.00 to C$54.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Desjardins decreased their target price on shares of Rogers Communications from C$68.00 to C$61.00 and set a “buy” rating on the stock in a research note on Thursday, November 28th. Barclays lowered shares of Rogers Communications from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from C$63.00 to C$39.00 in a research report on Thursday, January 30th. Bank of America decreased their price objective on shares of Rogers Communications from C$55.00 to C$50.00 in a research report on Monday, February 3rd. Finally, Scotiabank dropped their target price on shares of Rogers Communications from C$66.50 to C$64.00 and set a “sector perform” rating for the company in a report on Wednesday, January 8th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Rogers Communications presently has an average rating of “Moderate Buy” and an average target price of C$60.31.

Rogers Communications Trading Down 0.9 %

Shares of TSE:RCI.B opened at C$39.75 on Thursday. The stock’s 50-day simple moving average is C$42.97 and its two-hundred day simple moving average is C$49.49. The stock has a market capitalization of C$16.76 billion, a price-to-earnings ratio of 24.39, a PEG ratio of 0.32 and a beta of 0.62. Rogers Communications has a 52-week low of C$37.97 and a 52-week high of C$62.05. The company has a debt-to-equity ratio of 436.50, a quick ratio of 0.58 and a current ratio of 0.65.

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.