Cogeco Communications (TSE:CCA) Price Target Raised to C$75.50 at Scotiabank

Key Points

• Scotiabank has raised the target price for Cogeco Communications from C$75.00 to C$75.50, indicating a potential upside of 14.71% based on the company's previous close.
• National Bank Financial downgraded Cognoco Communications from a "strong-buy" to a "hold" rating, while several other brokerages have also reduced their price targets.
• The consensus rating for Cogeco Communications is currently a "Hold" with an average target price of C$75.28 from analysts.

Cogeco Communications (TSE:CCA - Get Free Report) had its target price boosted by stock analysts at Scotiabank from C$75.00 to C$75.50 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The brokerage currently has a "sector perform" rating on the stock. Scotiabank's price target suggests a potential upside of 14.71% from the company's previous close.

A number of other brokerages have also recently issued reports on CCA. National Bank Financial cut shares of Cogeco Communications from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 11th. National Bankshares cut shares of Cogeco Communications from an "outperform" rating to a "sector perform" rating and reduced their target price for the company from C$80.00 to C$69.00 in a research report on Tuesday, August 12th. BMO Capital Markets reduced their target price on shares of Cogeco Communications from C$80.00 to C$75.00 in a research report on Thursday, July 17th. Royal Bank Of Canada reduced their target price on shares of Cogeco Communications from C$75.00 to C$74.00 in a research report on Thursday, July 17th. Finally, CIBC reduced their target price on shares of Cogeco Communications from C$71.00 to C$68.00 in a research report on Friday. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of C$75.28.

Cogeco Communications Stock Performance

CCA stock traded down C$0.74 during midday trading on Monday, reaching C$65.82. 35,980 shares of the company were exchanged, compared to its average volume of 76,441. The company has a debt-to-equity ratio of 159.35, a current ratio of 0.37 and a quick ratio of 0.49. The business has a 50-day moving average price of C$64.25 and a two-hundred day moving average price of C$66.22. Cogeco Communications has a one year low of C$59.10 and a one year high of C$75.09. The firm has a market capitalization of C$2.77 billion, a price-to-earnings ratio of 8.53, a price-to-earnings-growth 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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