Market Overview

UPDATE: BMO Capital Markets Upgrades Rogers Communication to Outperform on Improved Outlook

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BMO Capital Markets upgraded Rogers Communication (NYSE: RCI) from Market Perform to Outperform and raised the price target from $47.00 to $52.50.

BMO Capital Markets commented, "Rogers is the largest wireless operator in Canada and we believe the outlook for incumbent carriers is attractive. We expect a positive shift in sentiment toward cable operators this year as they absorb IPTV competition and investors focus on their long-term broadband advantage. Finally, we expect attractive free cash flow from Rogers over our forecast period. All in, it seems to us the worst of competitive and regulatory threats has passed, or at least peaked, for Rogers. We expect a continued turn in sentiment on the name, and gradual multiple expansion."

Rogers Communication closed at $46.26 on Friday.

Latest Ratings for RCI

DateFirmActionFromTo
Jul 2014BarclaysMaintainsEqual-weight
Jul 2014JP MorganMaintainsNeutral
Jul 2014Canaccord GenuityUpgradesSellHold

View More Analyst Ratings for RCI
View the Latest Analyst Ratings

Posted-In: BMO Capital MarketsAnalyst Color Upgrades Intraday Update Analyst Ratings

 

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