TD Securities Forecasts Strong Price Appreciation for Rogers Communications (TSE:RCI.B) Stock

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price objective increased by analysts at TD Securities from C$62.00 to C$64.00 in a research note issued on Friday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. TD Securities’ price target would suggest a potential upside of 16.26% from the company’s previous close.

RCI.B has been the subject of a number of other reports. JPMorgan Chase & Co. boosted their price target on Rogers Communications from C$55.00 to C$59.00 in a report on Friday, July 25th. CIBC boosted their price target on Rogers Communications from C$55.00 to C$58.00 in a report on Friday, October 17th. Desjardins boosted their price target on Rogers Communications from C$51.00 to C$53.00 and gave the company a “buy” rating in a report on Thursday, October 9th. National Bankshares set a C$59.00 price target on Rogers Communications and gave the company an “outperform” rating in a report on Tuesday, August 12th. Finally, Scotiabank boosted their price target on Rogers Communications from C$54.25 to C$55.75 and gave the company a “sector perform” rating in a report on Monday, October 20th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Rogers Communications presently has an average rating of “Moderate Buy” and a consensus price target of C$56.06.

Rogers Communications Trading Up 1.9%

Rogers Communications stock opened at C$55.05 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.65 and a debt-to-equity ratio of 436.50. Rogers Communications has a 52 week low of C$32.42 and a 52 week high of C$55.12. The company has a market capitalization of C$29.62 billion, a price-to-earnings ratio of 19.73, a price-to-earnings-growth ratio of 0.32 and a beta of 0.98. The stock has a 50-day moving average price of C$49.84 and a 200 day moving average price of C$43.24.

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.