In a latest note to investors, a research analyst has provided a rating update for the Services sector company, Cogeco Commun (CCA). Today, analyst Aravinda Galappatthige gave a Buy rating to CCA and set a C$92 price target.
According to TipRanks.com, Galappatthige is a 1-star analyst with an average return of -0.8% and a 53.3% success rate. Galappatthige covers the Services sector, focusing on stocks such as Shaw Communications Inc, Thomson Reuters Corp, and IMAX Corp.
Currently, the analyst consensus on Cogeco Commun is a Moderate Buy with an average price target of C$88.43, implying a 1.6% upside from current levels. In a report released today, National Bank also maintained a Buy rating on the stock with a C$95 price target.
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Based on Cogeco Commun’s latest earnings release for the quarter ending November 30, the company reported a quarterly net profit of C$70.17 million. In comparison, last year the company had a net profit of C$139 million.
Cogeco Communications, Inc. is a telecommunications company, which engages in operating hybrid fibre coaxial cable in Ontario and Quebec. The company operates through the following three segments: Canadian Broadband Services, American Broadband Services and Business ICT Services.
The company’s shares closed on Thursday at C$87.05, close to its 52-week high of C$87.47.
