Cogeco Commun Gets a Hold Rating from Canaccord Genuity


Cogeco Commun (TSX: CCA), the Services sector company was revisited today, yet the Wall Street analyst remains currently on the sidelines. The company received a Hold rating from Canaccord Genuity’s analyst Aravinda Galappatthige, with a C$73 price target.

Galappatthige wrote:

“We understand that the licenses cover 1.5M PoPs in suburban Ontario. This follows the company’s purchases in the residual spectrum auction last month of 23 licenses of 2500MHz and 2300MHz spectrum for C$24.3M, largely within its footprint in Ontario and Quebec. While these are still fairly smaller slices of spectrum, the purchases do once again raise the issue of Cogeco’s longer-term wireless ambitions.”

According to TipRanks.com, Galappatthige is a 2-star analyst with an average return of 0.6% and a 60.7% success rate. Galappatthige covers the Services sector, focusing on stocks such as Lions Gate Ent Corp Cl A, Shaw Communications Inc, and Thomson Reuters Corp.

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Cogeco Commun has an analyst consensus of Hold, with a price target consensus of C$80.33.

Cogeco Commun’s market cap is currently C$3.28B and has a P/E ratio of 9.1. The company has a Price to Book ratio of 1.75.

Cogeco Communications, Inc. is a telecommunications company, which is a hybrid fibre coaxial cable operator in Ontario and Quebec. It provides cable television, high speed Internet, telephony, managed information technology and infrastructure and other telecommunications services.

The company’s shares closed on Thursday at C$66.56, close to its 52-week low of C$65.55.

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