Cogeco (TSE:CGO) Raised to Buy at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Cogeco (TSE:CGO) from a hold rating to a buy rating in a report issued on Monday morning, BayStreet.CA reports. They currently have C$77.00 price objective on the stock, up from their previous price objective of C$65.00.

A number of other equities research analysts have also weighed in on CGO. TD Securities boosted their price objective on shares of Cogeco from C$99.00 to C$104.00 in a report on Monday. CIBC dropped their price target on Cogeco from C$69.00 to C$67.00 in a research note on Monday.

Cogeco Stock Up 2.7 %

CGO stock opened at C$61.68 on Monday. The stock has a market capitalization of C$487.89 million, a PE ratio of 7.35, a price-to-earnings-growth ratio of -0.28 and a beta of 0.34. Cogeco has a 52 week low of C$44.62 and a 52 week high of C$62.88. The company has a quick ratio of 0.51, a current ratio of 0.44 and a debt-to-equity ratio of 151.56. The firm has a 50 day moving average of C$58.04 and a 200 day moving average of C$54.01.

About Cogeco

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.