Cogeco Communications (TSE:CCA) Upgraded at Canaccord Genuity Group

Cogeco Communications (TSE:CCA) was upgraded by equities researchers at Canaccord Genuity Group from a “hold” rating to a “buy” rating in a report 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 target points to a potential upside of 8.85% from the company’s current price.

Several other research analysts have also recently weighed in on the company. Royal Bank of Canada boosted their price objective on Cogeco Communications from C$76.00 to C$79.00 in a research report on Thursday, October 10th. Desjardins boosted their price target on shares of Cogeco Communications from C$64.00 to C$69.00 and gave the stock a “hold” rating in a report on Monday, July 15th. Bank of America upgraded shares of Cogeco Communications from an “underperform” rating to a “buy” rating and raised their price objective for the stock from C$60.00 to C$65.00 in a report on Wednesday, July 17th. BMO Capital Markets boosted their target price on shares of Cogeco Communications from C$65.00 to C$70.00 in a research note on Thursday, September 5th. Finally, 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. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$75.50.

Cogeco Communications Price Performance

Cogeco Communications stock opened at C$70.74 on Monday. The stock has a market cap 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 quick ratio of 0.49, a current ratio of 0.41 and a debt-to-equity ratio of 142.88. The company’s 50 day moving average price is C$68.15 and its two-hundred day moving average price is C$60.63. Cogeco Communications has a 52 week low of C$50.78 and a 52 week 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.