Market Overview

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

Related RCI
Benzinga's Top Upgrades, Downgrades For January 27, 2017
Mid-Afternoon Market Update: World Acceptance Falls On Earnings Miss; CARBO Ceramics Shares Spike Higher
Moody's: Spending feeds increasingly competitive Canadian broadband space (Seeking Alpha)

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

Jan 2017Canaccord GenuityUpgradesHoldBuy
Oct 2016BarclaysMaintainsEqual-Weight
Apr 2016Goldman SachsMaintainsNeutral

View More Analyst Ratings for RCI
View the Latest Analyst Ratings

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


Related Articles (RCI)

View Comments and Join the Discussion!