Royal Bank Of Canada Analysts Give Rogers Communications (TSE:RCI.B) a C$60.00 Price Target

Royal Bank Of Canada set a C$60.00 price target on Rogers Communications (TSE:RCI.B) (NYSE:RCI) in a research report sent to investors on Thursday,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

RCI.B has been the topic of a number of other research reports. National Bank Financial decreased their target price on shares of Rogers Communications from C$63.00 to C$62.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 7th. Canaccord Genuity Group lifted their price target on shares of Rogers Communications from C$55.00 to C$58.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. TD upgraded shares of Rogers Communications from a “hold” rating to a “buy” rating and lifted their price target for the company from C$56.00 to C$60.00 in a research report on Thursday, April 23rd. Canadian Imperial Bank of Commerce boosted their price target on Rogers Communications from C$61.00 to C$62.00 and gave the company an “outperformer” rating in a research note on Thursday, April 23rd. Finally, Scotia raised Rogers Communications from a “sector perform” rating to a “sector outperform” rating and increased their price target for the stock from C$57.75 to C$60.50 in a research report on Thursday, April 23rd. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$59.00.

Rogers Communications Stock Performance

TSE RCI.B opened at C$46.20 on Thursday. Rogers Communications has a 1-year low of C$44.21 and a 1-year high of C$56.27. The company has a market cap of C$24.96 billion, a P/E ratio of 4.05, a P/E/G ratio of 0.32 and a beta of 0.95. The stock has a 50-day moving average of C$49.88 and a two-hundred day moving average of C$50.54. The company has a debt-to-equity ratio of 436.50, a current ratio of 0.65 and a quick ratio of 0.58.

Key Rogers Communications News

Here are the key news stories impacting Rogers Communications this week:

• Positive Sentiment: TD raised its price target on Rogers Communications to C$65.00 from C$60.00 and kept a buy rating, signaling stronger upside expectations. BayStreet.CA
• Positive Sentiment: Royal Bank of Canada initiated coverage with an outperform rating and a C$60.00 target, also implying meaningful upside from the current share price. BayStreet.CA
• Positive Sentiment: Canaccord Genuity trimmed its target only slightly to C$57.50 from C$58.00 while maintaining a buy rating, which is still a constructive view on the stock. BayStreet.CA
• Neutral Sentiment: Desjardins started coverage with a hold rating and a C$58.00 target, suggesting upside potential but a more cautious stance on near-term performance. BayStreet.CA
• Negative Sentiment: Morgan Stanley reportedly lowered expectations for Rogers Communications’ stock, which may have tempered enthusiasm despite the other upgrades. American Banking News

Rogers Communications Company Profile

Rogers is the largest wireless service provider in Canada, with its more than 10 million subscribers equating to one third of the total Canadian market. Rogers’ wireless business accounted for 60% of the company’s total sales in 2021 and has increasingly provided a bigger portion of total company sales over the last several years. Rogers’ cable segment, which provides about one fourth of total sales, offers home internet, television, and landline phone service to consumers and businesses. Remaining sales come from Rogers’ media unit, which owns and operates various television and radio stations and the Toronto Blue Jays.