Quebecor (TSE:QBR.B) Stock Price Expected to Rise, Canadian Imperial Bank of Commerce Analyst Says

Key Points

• Canadian Imperial Bank of Commerce raised its price target on Quebecor from C$67.00 to C$78.00, implying about 16.84% upside from the current price.
• Several other analysts also lifted targets recently, and the stock now carries an overall Moderate Buy rating with an average target price of C$67.29.
• Quebecor shares were down 3.0% to C$66.76 on Friday, though the stock remains near its 12-month high of C$70.75 and posted quarterly EPS of C$0.97 on revenue of C$1.40 billion.

Quebecor (TSE:QBR.B - Get Free Report) had its price objective upped by investment analysts at Canadian Imperial Bank of Commerce from C$67.00 to C$78.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. Canadian Imperial Bank of Commerce's price objective indicates a potential upside of 16.84% from the company's current price.

A number of other analysts have also recently commented on QBR.B. Canaccord Genuity Group upped their price target on shares of Quebecor from C$60.00 to C$68.00 and gave the company a "buy" rating in a research report on Friday, May 15th. ATB Cormark Capital Markets boosted their price objective on Quebecor from C$63.00 to C$69.00 and gave the company an "outperform" rating in a research note on Friday, May 15th. TD upped their target price on Quebecor from C$69.00 to C$78.00 and gave the company a "buy" rating in a research report on Monday, June 29th. Scotiabank raised their target price on Quebecor from C$58.00 to C$63.50 and gave the stock a "sector perform" rating in a research note on Tuesday. Finally, Royal Bank Of Canada raised their target price on Quebecor from C$60.00 to C$64.00 and gave the stock a "sector perform" rating in a research note on Friday, May 15th. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of C$67.29.

Quebecor Trading Down 3.0%

Shares of TSE QBR.B traded down C$2.07 during midday trading on Friday, reaching C$66.76. The stock had a trading volume of 309,226 shares, compared to its average volume of 950,527. The firm has a market cap of C$15.04 billion, a price-to-earnings ratio of 17.39, a price-to-earnings-growth ratio of 1.43 and a beta of 0.68. Quebecor has a twelve month low of C$36.68 and a twelve month high of C$70.75. The company has a debt-to-equity ratio of 363.97, a quick ratio of 0.35 and a current ratio of 1.01. The company's 50 day moving average price is C$65.42 and its 200 day moving average price is C$58.22.

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

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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