TD Securities Upgrades Rogers Communications (RCI) to Buy; Negatives Priced In
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Price: $36.27 -0.22%
Rating Summary:
7 Buy, 11 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
7 Buy, 11 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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TD Securities upgraded Rogers Communications (NYSE: RCI) from Hold to Buy, price target raised from C$41 to C$42.
TD analyst, Vince Valentini, said, "RC shares have underperformed telco peers both YTD and since the beginning of 2011, and are now trading at almost a 10% discount to BCE, Inc. (NYSE: BCE) and TELUS (NYSE: TU) on a 2013E EBITDA basis. We remain concerned about the competitive dynamics in the Canadian wireless industry and do not see a lot of positive news or momentum for RCI.B shares in the near term; but on a valuation basis, we believe that the stock is now attractive and a lot of bad news is already priced in."
For an analyst ratings summary and ratings history on Rogers Communications click here. For more ratings news on Rogers Communications click here.
Shares of Rogers Communications closed at $35.20 yesterday.
TD analyst, Vince Valentini, said, "RC shares have underperformed telco peers both YTD and since the beginning of 2011, and are now trading at almost a 10% discount to BCE, Inc. (NYSE: BCE) and TELUS (NYSE: TU) on a 2013E EBITDA basis. We remain concerned about the competitive dynamics in the Canadian wireless industry and do not see a lot of positive news or momentum for RCI.B shares in the near term; but on a valuation basis, we believe that the stock is now attractive and a lot of bad news is already priced in."
For an analyst ratings summary and ratings history on Rogers Communications click here. For more ratings news on Rogers Communications click here.
Shares of Rogers Communications closed at $35.20 yesterday.
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