Rogers Communications (TSE:RCI.B) Price Target Raised to C$65.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase raised its price target for Rogers Communications from C$63 to C$65, implying a potential upside of about 30.86% from the stock's prior close.
• Other major banks (Scotiabank, National Bank, CIBC, RBC) also lifted targets or ratings, leaving a consensus of Moderate Buy with an average target of C$58.48 (eight Buys, three Holds).
• Rogers traded at C$49.67 with a market cap of C$26.8B, a low P/E of 3.81 and a very high debt-to-equity ratio of 436.5, indicating cheap valuation metrics but significant leverage.

Rogers Communications (TSE:RCI.B - Get Free Report) NYSE: RCI had its price target lifted by stock analysts at JPMorgan Chase & Co. from C$63.00 to C$65.00 in a note issued to investors on Monday,BayStreet.CA reports. JPMorgan Chase & Co.'s target price would indicate a potential upside of 30.86% from the stock's previous close.

A number of other equities analysts also recently commented on the stock. Scotiabank decreased their price objective on shares of Rogers Communications from C$58.00 to C$57.75 and set a "sector perform" rating for the company in a report on Tuesday, January 20th. National Bank Financial lifted their price objective on shares of Rogers Communications from C$60.00 to C$62.00 and gave the stock an "outperform" rating in a report on Thursday. Scotia raised shares of Rogers Communications from a "sector perform" rating to a "sector outperform" rating and lifted their price objective for the stock from C$57.75 to C$60.50 in a report on Thursday. Canadian Imperial Bank of Commerce lifted their price objective on shares of Rogers Communications from C$61.00 to C$62.00 and gave the stock an "outperformer" rating in a report on Thursday. Finally, Royal Bank Of Canada lifted their price objective on shares of Rogers Communications from C$61.00 to C$63.00 and gave the stock an "outperform" rating in a report on Thursday. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Rogers Communications currently has an average rating of "Moderate Buy" and a consensus target price of C$58.48.

Rogers Communications Stock Performance

Rogers Communications stock traded up C$0.41 during mid-day trading on Monday, reaching C$49.67. The company's stock had a trading volume of 712,586 shares, compared to its average volume of 1,863,515. The firm has a market cap of C$26.83 billion, a price-to-earnings ratio of 3.81, a PEG ratio of 0.32 and a beta of 0.96. The business has a 50 day moving average price of C$51.38 and a 200-day moving average price of C$51.74. 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 twelve month low of C$34.66 and a twelve month high of C$56.27.

Rogers Communications Company Profile

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. Rogers' cable segment, which provides about one fourth of total sales, offers home internet, television, and landline phone service to consumers and businesses. Remaining sales come from Rogers' media unit, which owns and operates various television and radio stations and the Toronto Blue Jays.

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