Canaccord Genuity Group Upgrades Cogeco (TSE:CGO) to Buy

Cogeco (TSE:CGO) was upgraded by investment analysts at Canaccord Genuity Group from a “hold” rating to a “buy” rating in a research note issued on Monday, BayStreet.CA reports. The brokerage currently has a C$77.00 price objective on the stock, up from their previous price objective of C$65.00. Canaccord Genuity Group’s price objective would suggest a potential upside of 24.27% from the stock’s current price.

Several other analysts have also commented on CGO. CIBC cut their price objective on Cogeco from C$69.00 to C$67.00 in a report on Monday. TD Securities raised their target price on Cogeco from C$99.00 to C$104.00 in a research report on Monday.

Cogeco Trading Up 0.5 %

TSE:CGO opened at C$61.96 on Monday. The company has a market cap of C$490.10 million, a PE ratio of 7.38, a price-to-earnings-growth ratio of -0.28 and a beta of 0.34. The company has a current ratio of 0.44, a quick ratio of 0.51 and a debt-to-equity ratio of 151.56. The company has a 50 day simple moving average of C$58.16 and a two-hundred day simple moving average of C$54.08. Cogeco has a 12 month low of C$44.62 and a 12 month high of C$62.88.

Cogeco Company Profile

Cogeco Inc, through its subsidiaries, operates in the communications and media sectors in Canada and the United States. The company operates in two segments, Canadian Telecommunications and American Telecommunications. It provides a range of Internet, video, and phone services through advanced fibre optic and two-way telecommunications distribution networks primarily to residential customers, as well as business services under the Cogeco Connexion name in Quebec and Ontario; and Breezeline brand in the United States.