Desjardins Forecasts Strong Price Appreciation for Quebecor (TSE:QBR.B) Stock

Key Points

• Desjardins raised Quebecor’s target price from C$66.00 to C$72.00 and kept a buy rating, implying about 7.8% upside from the current share price.
• Other brokers have also turned more positive, with several recent target-price increases from firms including CIBC, BMO Capital Markets, National Bank Financial and TD. Overall, Quebecor now has a Moderate Buy consensus and an average target price of C$67.79.
• Quebecor’s stock traded at C$66.80 on Wednesday, near its 52-week high of C$70.75, after reporting Q1 results of C$0.97 EPS and C$1.40 billion in revenue. The company also posted strong profitability, with a 37.44% return on equity and 12.99% net margin.

Quebecor (TSE:QBR.B - Get Free Report) had its target price increased by analysts at Desjardins from C$66.00 to C$72.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The brokerage currently has a "buy" rating on the stock. Desjardins' price objective would indicate a potential upside of 7.78% from the stock's current price.

QBR.B has been the subject of a number of other reports. Canadian Imperial Bank of Commerce upped their price objective on Quebecor from C$67.00 to C$78.00 in a research note on Friday, July 10th. BMO Capital Markets raised their target price on Quebecor from C$63.00 to C$67.00 and gave the company an "outperform" rating in a research note on Friday, May 15th. National Bank Financial boosted their price target on shares of Quebecor from C$67.00 to C$74.00 and gave the company an "outperform" rating in a report on Tuesday, June 23rd. TD upped their price target on shares of Quebecor from C$69.00 to C$78.00 and gave the stock a "buy" rating in a research report on Monday, June 29th. Finally, Scotia increased their price objective on shares of Quebecor from C$54.50 to C$58.00 and gave the stock a "sector perform" rating in a report on Friday, May 15th. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of C$67.79.

Quebecor Stock Performance

QBR.B traded up C$0.52 on Wednesday, hitting C$66.80. 216,201 shares of the company's stock were exchanged, compared to its average volume of 942,170. The company has a current ratio of 1.01, a quick ratio of 0.35 and a debt-to-equity ratio of 363.97. The stock has a fifty day moving average of C$66.01 and a two-hundred day moving average of C$58.53. Quebecor has a twelve month low of C$36.68 and a twelve month high of C$70.75. The firm has a market cap of C$15.05 billion, a PE ratio of 17.40, a P/E/G ratio of 1.43 and a beta of 0.68.

Quebecor (TSE:QBR.B - Get Free Report) last issued its earnings results on Thursday, May 14th. The company reported C$0.97 EPS for the quarter. The company had revenue of C$1.40 billion during the quarter. Quebecor had a return on equity of 37.44% and a net margin of 12.99%.

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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