Quebecor (TSE:QBR.B) Stock Rating Upgraded by TD

Key Points

• TD upgraded Quebecor (TSE:QBR.B) from "hold" to "buy" and raised its price target to C$63 (from C$60), implying about a 10.06% upside from the current price.
• Several other analysts have also lifted targets and ratings — the street shows eight Buy and three Hold ratings, with a consensus rating of "Moderate Buy" and a consensus price target of C$60.23.
• Shares traded up ~4.0% to C$57.24 on the news; the company has a C$12.98B market cap, P/E of 16.12, reported Q1 EPS of C$0.99 on C$1.55B revenue, and a 52‑week range of C$35.25–C$60.73.

Quebecor (TSE:QBR.B - Get Free Report) was upgraded by TD from a "hold" rating to a "buy" rating in a research report issued on Thursday,BayStreet.CA reports. The brokerage currently has a C$63.00 price objective on the stock, up from their prior price objective of C$60.00. TD's price objective points to a potential upside of 10.06% from the stock's current price.

A number of other equities research analysts have also recently commented on QBR.B. TD Securities cut Quebecor from a "buy" rating to a "hold" rating and increased their price target for the company from C$58.00 to C$60.00 in a research note on Friday, February 27th. ATB Cormark Capital Markets increased their price target on Quebecor from C$57.00 to C$63.00 and gave the company an "outperform" rating in a research note on Friday, February 27th. Canadian Imperial Bank of Commerce increased their price target on Quebecor from C$61.00 to C$66.00 in a research note on Tuesday, April 7th. BMO Capital Markets increased their price target on Quebecor from C$58.00 to C$60.00 and gave the company an "outperform" rating in a research note on Friday, February 27th. Finally, National Bank Financial upgraded Quebecor from a "sector perform" rating to an "outperform" rating and raised their price objective for the stock from C$57.00 to C$59.00 in a research note on Monday. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of C$60.23.

Quebecor Stock Up 4.0%

Quebecor stock traded up C$2.19 during midday trading on Thursday, reaching C$57.24. The company's stock had a trading volume of 301,537 shares, compared to its average volume of 945,369. The stock's 50-day simple moving average is C$56.40 and its 200-day simple moving average is C$51.49. The company has a debt-to-equity ratio of 363.97, a current ratio of 1.01 and a quick ratio of 0.35. Quebecor has a 52-week low of C$35.25 and a 52-week high of C$60.73. The stock has a market capitalization of C$12.98 billion, a P/E ratio of 16.12, a PEG ratio of 1.43 and a beta of 0.68.

Quebecor (TSE:QBR.B - Get Free Report) last released its quarterly 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 during the quarter.

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. 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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