Quebecor (TSE:QBR.B) Rating Increased to Outperform at National Bank Financial

Key Points

• National Bank Financial upgraded Quebecor from "sector perform" to "outperform" and raised its price target to C$59.00 (from C$57.00), implying roughly a 7.4% upside from the current share price.
• Several other firms also raised targets or ratings (e.g., ATB Cormark to C$63/outperform, RBC to C$60, CIBC to C$66, Canaccord to buy), leaving Quebecor with seven Buy and three Hold ratings and a consensus of Moderate Buy with an average target of C$59.95.
• Shares traded up ~2.2% to C$54.93, with a market cap of C$12.45B and a P/E of 15.47; last quarter EPS was C$0.99 on C$1.55B revenue, and the 52-week range is C$34.63–C$60.73.

Quebecor (TSE:QBR.B - Get Free Report) was upgraded by equities researchers at National Bank Financial from a "sector perform" rating to an "outperform" rating in a research note issued on Monday,BayStreet.CA reports. The brokerage presently has a C$59.00 price objective on the stock, up from their prior price objective of C$57.00. National Bank Financial's price objective would suggest a potential upside of 7.41% from the stock's current price.

A number of other research firms also recently commented on QBR.B. ATB Cormark Capital Markets lifted their target price on Quebecor from C$57.00 to C$63.00 and gave the company an "outperform" rating in a research report on Friday, February 27th. Royal Bank Of Canada lifted their target price on Quebecor from C$57.00 to C$60.00 and gave the company a "sector perform" rating in a research report on Thursday. TD Securities downgraded Quebecor from a "buy" rating to a "hold" rating and lifted their target price for the company from C$58.00 to C$60.00 in a research report on Friday, February 27th. Canadian Imperial Bank of Commerce lifted their target price on Quebecor from C$61.00 to C$66.00 in a research report on Tuesday, April 7th. Finally, Canaccord Genuity Group upgraded Quebecor from a "hold" rating to a "buy" rating and lifted their target price for the company from C$51.25 to C$60.00 in a research report on Monday, March 2nd. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Quebecor presently has a consensus rating of "Moderate Buy" and an average price target of C$59.95.

Quebecor Trading Up 2.2%

TSE QBR.B traded up C$1.20 on Monday, reaching C$54.93. 480,093 shares of the company were exchanged, compared to its average volume of 953,147. The business's fifty day moving average price is C$56.15 and its 200 day moving average price is C$51.29. The stock has a market capitalization of C$12.45 billion, a P/E ratio of 15.47, a price-to-earnings-growth ratio of 1.43 and a beta of 0.68. 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$34.63 and a fifty-two week high of C$60.73.

Quebecor (TSE:QBR.B - Get Free Report) last posted its earnings results on Thursday, February 26th. The company reported C$0.99 EPS for the quarter. Quebecor had a return on equity of 37.44% and a net margin of 12.99%.The company had revenue of C$1.55 billion for the quarter.

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. In addition to the quadruple-play services Quebecor offers a French-language subscription video on demand service and has a media segment that owns and operates television stations publishes newspapers and magazines and produces and distributes films and television shows.

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