Quebecor (TSE:QBR.B) Upgraded to "Outperform" at Raymond James Financial

Key Points

• Raymond James upgraded Quebecor from “market perform” to “outperform” and raised its price target from C$72 to C$75, implying 16.55% upside.
• Analyst sentiment is broadly positive: Quebecor has eight Buy ratings and five Hold ratings, resulting in a consensus “Moderate Buy” rating and a C$70.12 average price target.
• Quebecor shares traded at C$64.35, with a C$14.38 billion market capitalization and a 52-week range of C$41.56 to C$70.75.

Quebecor (TSE:QBR.B - Get Free Report) was upgraded by investment analysts at Raymond James Financial from a "market perform" rating to an "outperform" rating in a note issued to investors on Tuesday, BayStreet reports. The brokerage currently has a C$75.00 price objective on the stock, up from their prior price objective of C$72.00. Raymond James Financial's price target would indicate a potential upside of 16.55% from the stock's current price.

QBR.B has been the topic of several other research reports. TD boosted their price target on shares of Quebecor from C$78.00 to C$80.00 and gave the company a "buy" rating in a report on Friday, August 7th. Scotia upped their price objective on shares of Quebecor from C$63.50 to C$66.00 and gave the stock a "sector perform" rating in a research note on Friday, August 7th. Scotiabank lifted their target price on shares of Quebecor from C$58.00 to C$63.50 and gave the company a "sector perform" rating in a research note on Tuesday, July 7th. Canaccord Genuity Group downgraded Quebecor from a "buy" rating to a "hold" rating and set a C$68.00 target price on the stock. in a report on Friday, July 10th. Finally, Royal Bank Of Canada increased their price target on Quebecor from C$70.00 to C$71.00 and gave the stock a "sector perform" rating in a research report on Friday, August 7th. Eight investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of C$70.12.

Quebecor Stock Performance

TSE QBR.B traded up C$0.29 during midday trading on Tuesday, hitting C$64.35. The company had a trading volume of 186,328 shares, compared to its average volume of 980,840. Quebecor has a fifty-two week low of C$41.56 and a fifty-two week high of C$70.75. The stock has a market cap of C$14.38 billion, a price-to-earnings ratio of 15.77, a P/E/G ratio of 1.43 and a beta of 0.61. The firm has a fifty day simple moving average of C$64.88 and a two-hundred day simple moving average of C$62.69. The company has a quick ratio of 0.35, a current ratio of 1.01 and a debt-to-equity ratio of 363.97.

Quebecor Company Profile

Quebecor, a Canadian leader in telecommunications, entertainment, news media and culture, is one of the best-performing integrated communications companies in the industry. Driven by their determination to deliver the best possible customer experience, all of Quebecor's subsidiaries and brands are differentiated by their high-quality, multiplatform, convergent products and services. Québec-based Quebecor TSX: QBR.A TSX: QBR.B employs more than 11,000 people in Canada. A family business founded in 1950, Quebecor is strongly committed to the community.

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