Cogeco Communications (TSE:CCA) Given New C$68.00 Price Target at CIBC

Key Points

• CIBC has reduced the price target for Cogeco Communications from C$71.00 to C$68.00, suggesting a potential upside of 2.16% from the company's previous close.
• Other analysts have similarly lowered their ratings, with a range of targets between C$69.00 and C$75.00, leading to an average hold rating with a target price of C$75.22.
• As of the latest trading session, Cogeco Communications shares rose 2.9%, with a current trading price of C$66.56.

Cogeco Communications (TSE:CCA - Get Free Report) had its price objective lowered by CIBC from C$71.00 to C$68.00 in a note issued to investors on Friday,BayStreet.CA reports. CIBC's target price indicates a potential upside of 2.16% from the company's previous close.

A number of other research analysts also recently weighed in on the stock. Royal Bank Of Canada cut their price target on shares of Cogeco Communications from C$75.00 to C$74.00 in a report on Thursday, July 17th. National Bank Financial lowered Cogeco Communications from a "strong-buy" rating to a "hold" rating in a report on Monday, August 11th. Scotiabank dropped their price target on shares of Cogeco Communications from C$75.50 to C$75.00 and set a "sector perform" rating on the stock in a research report on Thursday, July 17th. National Bankshares lowered shares of Cogeco Communications from an "outperform" rating to a "sector perform" rating and dropped their price target for the company from C$80.00 to C$69.00 in a research report on Tuesday, August 12th. Finally, Desjardins set a C$73.00 target price on shares of Cogeco Communications and gave the company a "hold" rating in a research note on Thursday, October 9th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of C$75.22.

Cogeco Communications Stock Up 2.9%

Shares of TSE:CCA traded up C$1.85 during midday trading on Friday, hitting C$66.56. 100,478 shares of the stock were exchanged, compared to its average volume of 76,677. The company has a debt-to-equity ratio of 159.35, a quick ratio of 0.49 and a current ratio of 0.37. Cogeco Communications has a 52-week low of C$59.10 and a 52-week high of C$75.09. The business's fifty day simple moving average is C$64.15 and its two-hundred day simple moving average is C$66.28. The company has a market capitalization of C$2.80 billion, a PE ratio of 8.62, a P/E/G ratio of 4.77 and a beta of 0.52.

Cogeco Communications Company Profile

Cogeco Communications Inc is a communication corporation. The company is a cable operator in North America operating in Canada. It provides residential and business customers with internet, video, and telephony services with broadband fibre networks. The reportable segments of the company are Canadian broadband services and American broadband services.

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