Canaccord Genuity Group Upgrades Cogeco Communications (TSE:CCA) to “Buy”

Cogeco Communications (TSE:CCA) was upgraded by stock analysts at Canaccord Genuity Group from a “hold” rating to a “buy” rating in a report issued on Monday, BayStreet.CA reports. The brokerage presently has a C$77.00 price target on the stock, up from their prior price target of C$65.00. Canaccord Genuity Group’s target price would indicate a potential upside of 9.14% from the stock’s current price.

Several other research analysts have also issued reports on CCA. TD Securities increased their target price on Cogeco Communications from C$85.00 to C$89.00 in a research report on Monday. National Bankshares upgraded Cogeco Communications from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from C$64.00 to C$80.00 in a report on Friday, September 20th. Royal Bank of Canada boosted their target price on shares of Cogeco Communications from C$76.00 to C$79.00 in a report on Thursday, October 10th. Bank of America upgraded shares of Cogeco Communications from an “underperform” rating to a “buy” rating and increased their price target for the stock from C$60.00 to C$65.00 in a research note on Wednesday, July 17th. Finally, BMO Capital Markets upped their price objective on shares of Cogeco Communications from C$65.00 to C$70.00 in a report on Thursday, September 5th. Five investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$75.50.

Cogeco Communications Trading Up 1.9 %

Shares of CCA traded up C$1.30 during trading hours on Monday, reaching C$70.55. 68,633 shares of the company traded hands, compared to its average volume of 76,432. Cogeco Communications has a 12 month low of C$50.78 and a 12 month high of C$72.40. The company has a quick ratio of 0.49, a current ratio of 0.41 and a debt-to-equity ratio of 142.88. The company’s fifty day moving average price is C$67.92 and its two-hundred day moving average price is C$60.46. The company has a market capitalization of C$2.12 billion, a price-to-earnings ratio of 9.00, a price-to-earnings-growth ratio of 4.77 and a beta of 0.59.

About Cogeco Communications

Cogeco Communications Inc operates as a telecommunications corporation in Canada and the United States. It operates in two segments, Canadian Telecommunications and American Telecommunications. The company offers Internet, video, and Internet protocol (IP) based telephony services to residential and small business customers through its two-way broadband fiber networks.