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UPDATE: Stifel Nicolaus Raises PT to $50 on Rogers Communications on Solid Execution

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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.

Posted-In: Stifel NicolausAnalyst Color Price Target Analyst Ratings

 

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