Desjardins Issues Positive Forecast for Quebecor (TSE:QBR.B) Stock Price

Key Points

• Desjardins has increased its price target for Quebecor's stock from C$43.00 to C$47.00, indicating a potential upside of 7.48% from its previous close.
• Quebecor has received a "buy" rating from five investment analysts, while one has assigned a "hold" rating, contributing to a consensus rating of "Moderate Buy."
• In recent trading, Quebecor's stock rose 1.1% to C$43.73, with a market capitalization of C$10.03 billion and a price-to-earnings ratio of 13.09.

Quebecor (TSE:QBR.B - Get Free Report) had its price target hoisted by research analysts at Desjardins from C$43.00 to C$47.00 in a report released on Thursday,BayStreet.CA reports. The brokerage currently has a "buy" rating on the stock. Desjardins' price target points to a potential upside of 7.48% from the stock's previous close.

Other equities research analysts have also issued reports about the stock. TD Securities boosted their price objective on shares of Quebecor from C$44.00 to C$46.00 and gave the company a "buy" rating in a report on Tuesday, June 24th. BMO Capital Markets raised shares of Quebecor from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from C$40.00 to C$47.00 in a report on Thursday, September 4th. Canaccord Genuity Group boosted their price objective on shares of Quebecor from C$40.75 to C$43.25 in a report on Thursday, July 10th. Finally, National Bankshares upped their price target on shares of Quebecor from C$42.00 to C$45.00 and gave the company an "outperform" rating in a report on Wednesday, September 17th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Quebecor has a consensus rating of "Moderate Buy" and a consensus price target of C$43.09.

Quebecor Stock Up 1.1%

Shares of QBR.B stock traded up C$0.47 during trading hours on Thursday, reaching C$43.73. 433,084 shares of the company's stock were exchanged, compared to its average volume of 992,963. The stock's 50 day moving average is C$41.85 and its 200-day moving average is C$39.59. The company has a market cap of C$10.03 billion, a price-to-earnings ratio of 13.09, a P/E/G ratio of 1.43 and a beta of 0.54. The company has a current ratio of 1.01, a quick ratio of 0.35 and a debt-to-equity ratio of 363.97. Quebecor has a fifty-two week low of C$30.02 and a fifty-two week high of C$45.31.

Quebecor Company Profile

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.

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