Canaccord Genuity Group Forecasts Strong Price Appreciation for Rogers Communications (TSE:RCI.B) Stock

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price objective increased by research analysts at Canaccord Genuity Group from C$55.00 to C$57.00 in a note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective suggests a potential upside of 3.54% from the stock’s previous close.

RCI.B has been the topic of several other reports. BMO Capital Markets lifted their target price on shares of Rogers Communications from C$55.00 to C$57.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 2nd. CIBC boosted their price objective on shares of Rogers Communications from C$55.00 to C$58.00 in a research report on Friday, October 17th. TD Securities boosted their price objective on shares of Rogers Communications from C$62.00 to C$64.00 and gave the company a “buy” rating in a research report on Friday. JPMorgan Chase & Co. boosted their price objective on shares of Rogers Communications from C$55.00 to C$59.00 in a research report on Friday, July 25th. Finally, Scotiabank upped their target price on shares of Rogers Communications from C$54.25 to C$55.75 and gave the stock a “sector perform” rating in a research report on Monday, October 20th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold 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$56.06.

Rogers Communications Stock Up 1.9%

Shares of TSE RCI.B opened at C$55.05 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.65 and a debt-to-equity ratio of 436.50. Rogers Communications has a 52 week low of C$32.42 and a 52 week high of C$55.12. The firm’s fifty day moving average is C$49.84 and its 200 day moving average is C$43.24. The company has a market cap of C$29.62 billion, a price-to-earnings ratio of 19.73, a PEG ratio of 0.32 and a beta of 0.98.

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.