Rogers Communications (TSE:RCI.B) Price Target Raised to C$59.00

Key Points

• JPMorgan Chase & Co. raised Rogers Communications' price target from C$55.00 to C$59.00, indicating a potential upside of 25.83% from the current price.
• Desjardins and BMO Capital Markets also increased their price targets to C$51.00 and C$57.00 respectively, showing overall optimistic sentiment from analysts.
• Rogers Communications is reported to hold a consensus rating of "Moderate Buy" with a consensus target price of C$54.89.
• The company is the largest wireless service provider in Canada, with over 10 million subscribers accounting for roughly one third of the total Canadian market.

Rogers Communications (TSE:RCI.B - Get Free Report) NYSE: RCI had its target price boosted by equities research analysts at JPMorgan Chase & Co. from C$55.00 to C$59.00 in a research report issued on Friday,BayStreet.CA reports. JPMorgan Chase & Co.'s price objective indicates a potential upside of 25.83% from the stock's current price.

RCI.B has been the subject of several other reports. Desjardins boosted their price target on Rogers Communications from C$49.00 to C$51.00 and gave the company a "buy" rating in a report on Thursday. CIBC dropped their price objective on shares of Rogers Communications from C$76.00 to C$55.00 and set an "outperform" rating on the stock in a research note on Thursday, July 3rd. BMO Capital Markets raised their price target on shares of Rogers Communications from C$55.00 to C$57.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. National Bankshares raised their target price on shares of Rogers Communications from C$52.00 to C$53.00 and gave the stock an "outperform" rating in a report on Monday, June 30th. Finally, UBS Group reduced their price target on shares of Rogers Communications from C$66.00 to C$63.00 in a research report on Tuesday, April 1st. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of C$54.89.

Rogers Communications Price Performance

Shares of TSE:RCI.B traded down C$0.17 during trading on Friday, hitting C$46.89. 758,391 shares of the stock were exchanged, compared to its average volume of 2,023,432. The company has a fifty day moving average price of C$40.08 and a two-hundred day moving average price of C$39.03. The company has a market cap of C$19.77 billion, a PE ratio of 28.77, a P/E/G ratio of 0.32 and a beta of 0.62. The company has a current ratio of 0.65, a quick ratio of 0.58 and a debt-to-equity ratio of 436.50. Rogers Communications has a 12-month low of C$32.42 and a 12-month high of C$56.55.

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.

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