Cogeco Communications (TSE:CCA) Stock Rating Upgraded by Canaccord Genuity Group

Cogeco Communications (TSE:CCA) was upgraded by Canaccord Genuity Group from a “hold” rating to a “buy” rating in a note issued to investors on Monday, BayStreet.CA reports. The firm presently 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 would indicate a potential upside of 9.14% from the company’s previous close.

Other analysts also recently issued reports about the stock. Bank of America upgraded shares of Cogeco Communications from an “underperform” rating to a “buy” rating and lifted their target price for the company from C$60.00 to C$65.00 in a research note on Wednesday, July 17th. Desjardins boosted their price objective on Cogeco Communications from C$64.00 to C$69.00 and gave the company a “hold” rating in a research report on Monday, July 15th. TD Securities upped their target price on shares of Cogeco Communications from C$85.00 to C$89.00 in a research report on Monday. 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. Finally, Scotiabank lifted their price target on Cogeco Communications from C$73.50 to C$77.50 in a research report on Monday. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Cogeco Communications currently has an average rating of “Moderate Buy” and a consensus target price of C$75.50.

Cogeco Communications Stock Performance

TSE:CCA traded up C$1.30 during mid-day trading on Monday, hitting C$70.55. 68,633 shares of the company traded hands, compared to its average volume of 76,432. 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 stock’s fifty day moving average price is C$67.92 and its 200-day moving average price is C$60.46. The firm has a market cap of C$2.12 billion, a price-to-earnings ratio of 9.00, a price-to-earnings-growth ratio of 4.77 and a beta of 0.59. Cogeco Communications has a one year low of C$50.78 and a one year high of C$72.40.

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.