Desjardins Has Lowered Expectations for Quebecor (TSE:QBR.B) Stock Price

Key Points

• Desjardins has revised down Quebecor's price target from C$44.00 to C$43.00 while maintaining a "buy" rating, indicating a potential upside of 13.73% from the stock's previous close.
• The average target price for Quebecor from analysts is currently C$40.72, with several firms adjusting their targets positively in recent reports.
• Quebecor has a market capitalization of C$5.97 billion and a recent stock price performance saw shares trading up to C$37.81, highlighting active market interest.

Quebecor (TSE:QBR.B - Get Free Report) had its price target decreased by Desjardins from C$44.00 to C$43.00 in a report issued on Friday,BayStreet.CA reports. The brokerage currently has a "buy" rating on the stock. Desjardins' price target suggests a potential upside of 10.65% from the stock's previous close.

Several other analysts also recently issued reports on QBR.B. National Bankshares upped their price objective on Quebecor from C$38.00 to C$40.00 and gave the company a "sector perform" rating in a research report on Friday, June 6th. TD Securities upped their price objective on Quebecor from C$44.00 to C$46.00 and gave the company a "buy" rating in a research report on Tuesday, June 24th. Scotiabank lifted their target price on shares of Quebecor from C$36.00 to C$36.50 and gave the stock a "sector perform" rating in a research note on Wednesday, April 16th. Finally, Canaccord Genuity Group lifted their target price on shares of Quebecor from C$40.75 to C$43.25 in a research note on Thursday, July 10th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of C$40.72.

Quebecor Price Performance

QBR.B traded up C$0.61 during trading on Friday, reaching C$38.86. 96,581 shares of the stock were exchanged, compared to its average volume of 886,749. The business's 50 day moving average price is C$40.02 and its two-hundred day moving average price is C$37.11. The company has a market capitalization of C$6.13 billion, a price-to-earnings ratio of 12.26, a P/E/G ratio of 1.43 and a beta of 0.39. Quebecor has a 1 year low of C$30.02 and a 1 year high of C$41.99. The company has a debt-to-equity ratio of 363.97, a current ratio of 1.01 and a quick ratio of 0.35.

About Quebecor

Quebecor primarily provides mobile and fixed-line telecom services in Quebec where it is the leading telecom provider. With more than 1.8 million internet subscribers Quebecor provides internet service to more than 60% of the homes its network passes. It also has about 1.6 million mobile subscribers representing more than 20% wireless market share in Quebec.