Cogeco Communications (OTCMKTS:CGEAF) Stock Passes Above 50 Day Moving Average – Here’s Why

Cogeco Communications Inc. (OTCMKTS:CGEAF) crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $47.92 and traded as high as $51.8580. Cogeco Communications shares last traded at $51.4860, with a volume of 2,865 shares trading hands.

Analysts Set New Price Targets

A number of brokerages have weighed in on CGEAF. National Bankshares reaffirmed a “sector perform” rating on shares of Cogeco Communications in a research report on Friday, October 31st. BMO Capital Markets reiterated a “market perform” rating on shares of Cogeco Communications in a research note on Friday, January 16th. TD Securities restated a “buy” rating on shares of Cogeco Communications in a research note on Friday, October 31st. CIBC reissued a “neutral” rating on shares of Cogeco Communications in a report on Friday, January 16th. Finally, Scotiabank reissued a “sector perform” rating on shares of Cogeco Communications in a research note on Monday, January 12th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold”.

Cogeco Communications Stock Performance

The stock has a 50-day simple moving average of $48.03 and a 200 day simple moving average of $47.33.

About Cogeco Communications

Cogeco Communications Inc is a Canadian telecommunications company that provides broadband internet, cable television and telephony services to both residential and business customers. The company’s operations are structured around two primary networks: its Canadian footprint serving markets across Ontario and Quebec, and Atlantic Broadband, its U.S. cable subsidiary operating in several states along the East Coast. Leveraging a combination of fiber-optic and hybrid fiber-coaxial infrastructure, Cogeco Communications delivers high-speed internet access, digital video, voice-over-IP and managed network solutions.

Founded in 1957 and headquartered in Montreal, Quebec, Cogeco Communications has expanded through organic growth and strategic acquisitions.