Cogeco Commun Gets a Hold Rating from RBC Capital


The Services sector company, Cogeco Commun (TSX: CCA), has received a rating update from a Wall Street analyst on July 12. The company received a Hold on July 12 from RBC Capital’s analyst Drew Mcreynolds, with a C$82 price target.

Mcreynolds has an average return of 2.2% when recommending Cogeco Commun.

According to TipRanks.com, Mcreynolds is ranked #1273 out of 4843 analysts.

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The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Cogeco Commun with a C$80.75 average price target, implying a 13.8% upside from current levels. In a report issued on July 13, Desjardins also reiterated a Hold rating on the stock with a C$82 price target.

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Based on Cogeco Commun’s latest earnings release for the quarter ending May 31, the company reported a quarterly net profit of C$61.26 million. In comparison, last year the company had a net profit of C$76.2 million.

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 Tuesday at C$70.94.

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