Desjardins Forecasts Strong Price Appreciation for Rogers Communications (TSE:RCI.B) Stock

Rogers Communications (TSE:RCI.B - Get Free Report) NYSE: RCI had its target price boosted by research analysts at Desjardins from C$49.00 to C$51.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage currently has a "buy" rating on the stock. Desjardins' target price indicates a potential upside of 9.40% from the company's current price.

Several other research firms also recently commented on RCI.B. BMO Capital Markets increased their target price on Rogers Communications from C$55.00 to C$57.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. National Bankshares increased their target price on Rogers Communications from C$52.00 to C$53.00 and gave the company an "outperform" rating in a research report on Monday, June 30th. UBS Group reduced their price target on Rogers Communications from C$66.00 to C$63.00 in a research report on Tuesday, April 1st. CIBC reduced their price target on Rogers Communications from C$76.00 to C$55.00 and set an "outperform" rating on the stock in a research report on Thursday, July 3rd. Finally, Royal Bank Of Canada reduced their price target on Rogers Communications from C$57.00 to C$54.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of C$53.29.

Rogers Communications Price Performance

RCI.B stock traded down C$0.42 during trading on Thursday, reaching C$46.62. 1,231,991 shares of the company were exchanged, compared to its average volume of 2,025,450. The company has a 50-day moving average of C$40.31 and a two-hundred day moving average of C$38.99. The company has a market capitalization of C$19.66 billion, a price-to-earnings ratio of 28.60, a P/E/G ratio of 0.32 and a beta of 0.62. Rogers Communications has a twelve month low of C$32.42 and a twelve month high of C$56.55. The company has a debt-to-equity ratio of 436.50, a current ratio of 0.65 and a quick ratio of 0.58.

About Rogers Communications

Rogers is the largest wireless service provider in Canada, with its more than 10 million subscribers equating to one third of the total Canadian market. Rogers' wireless business accounted for 60% of the company's total sales in 2021 and has increasingly provided a bigger portion of total company sales over the last several years.