Cogeco (TSE:CGO) Raised to "Buy" at TD

Key Points

• TD upgraded Cogeco from a "hold" to a "buy" and set a C$81 price target (down from C$85), implying about a 30.4% upside from the prior close.
• Cogeco reported quarterly EPS of C$2.12 on revenue of C$713.04 million, with a return on equity of 9.64% and a net margin of 2.86%.
• The stock traded at C$62.11 (up 0.3%), has a market cap of C$588.18 million, a P/E of 7.11, and a 12‑month range of C$55.19–C$77.04.

Cogeco (TSE:CGO - Get Free Report) was upgraded by research analysts at TD from a "hold" rating to a "buy" rating in a research report issued on Monday,BayStreet.CA reports. The firm presently has a C$81.00 price target on the stock, down from their prior price target of C$85.00. TD's price target indicates a potential upside of 30.41% from the stock's previous close.

CGO has been the subject of a number of other reports. Canadian Imperial Bank of Commerce lifted their price objective on Cogeco from C$61.00 to C$66.00 in a research note on Friday, January 16th. TD Securities lowered Cogeco from a "buy" rating to a "hold" rating and dropped their target price for the stock from C$120.00 to C$85.00 in a research report on Thursday, March 26th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of C$77.33.

Cogeco Trading Up 0.3%

TSE:CGO traded up C$0.17 on Monday, reaching C$62.11. The company's stock had a trading volume of 26,603 shares, compared to its average volume of 28,809. Cogeco has a 12-month low of C$55.19 and a 12-month high of C$77.04. The company has a quick ratio of 0.51, a current ratio of 0.50 and a debt-to-equity ratio of 531.92. The stock has a 50 day moving average price of C$71.04 and a 200 day moving average price of C$65.90. The firm has a market cap of C$588.18 million, a price-to-earnings ratio of 7.11, a price-to-earnings-growth ratio of -0.28 and a beta of 0.83.

Cogeco (TSE:CGO - Get Free Report) last issued its quarterly earnings data on Thursday, April 9th. The company reported C$2.12 earnings per share for the quarter. Cogeco had a return on equity of 9.64% and a net margin of 2.86%.The business had revenue of C$713.04 million during the quarter. On average, equities analysts anticipate that Cogeco will post 11.054717 EPS for the current fiscal year.

About Cogeco

Cogeco Inc is a telecommunications company. The company has two reportable operating segments, namely Canadian broadband services and American broadband services. The Canadian and American broadband services segments provide a wide range of Internet, video, and telephony services primarily to residential customers, as well as business services across their coverage areas. The Canadian broadband services activities are carried out by Cogeco Connexion in the provinces of Quebec and Ontario and the American broadband services activities are carried out by Atlantic Broadband in 12 states.

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