UPDATE: Stifel Nicolaus Raises PT to $50 on Rogers Communications on Solid Execution
Stifel Nicolaus maintained Rogers Communication (NYSE: RCI) with a Buy rating and raised the price target from $46.50 to $50.00.
Stifel Nicolaus commented, "4Q results were generally ahead of our expectations, driven by wireless ARPU growth, improved cable margins, and lower media expenses as a result of the NHL lock-out. In Wireless, postpaid metrics were stable with higher ARPU and in-line postpaid net adds. … At current levels, we continue to rate Rogers shares a Buy and marginally increase our target price to $50 (was $46.50) target price, which equates to 13.3x FY14E earnings."
Rogers Communications closed at $47.02 on Friday.
Latest Ratings for RCI
|Jun 2015||Canaccord Genuity||Initiates Coverage on||Hold|
|Apr 2015||Bank of America||Upgrades||Neutral||Buy|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.