UPDATE: Stifel Nicolaus Raises PT to $42 on Rogers Communications

Stifel Nicolaus raises its price target on Buy-rated Rogers Communications

to $42 from $40 on solid wireline performance on Q4, and in-line outlook in 2012. Stifel Nicolaus says, "Despite elevated levels of competition and pricing pressure across the business, at current levels we continue to rate Rogers shares Buy. We are rolling forward our valuation to FY13 and increasing our target price to $42 (was $40). Our target price represents a multiple of 12.1x FY13E earnings." RCI closed at $38.15 a share on Wednesday.