Scotiabank Forecasts Strong Price Appreciation for Quebecor (TSE:QBR.A) Stock

Key Points

• Scotiabank has raised its target price for Quebecor (TSE:QBR.A) from C$40.50 to C$43.25, maintaining a "sector perform" rating on the stock.
• Quebecor's stock is currently down 0.6%, trading at C$43.63, with a potential downside of 0.87% from its previous close.
• As the leading telecom provider in Quebec, Quebecor has over 1.8 million internet subscribers and a 20% market share in mobile subscribers within the region.

Quebecor (TSE:QBR.A - Free Report) had its price target hoisted by Scotiabank from C$40.50 to C$43.25 in a research report sent to investors on Monday,BayStreet.CA reports. The brokerage currently has a sector perform rating on the stock.

Quebecor Price Performance

Shares of QBR.A stock remained flat at C$43.06 during trading on Monday. The stock has a market capitalization of C$9.88 billion, a P/E ratio of 12.89, a P/E/G ratio of 1.44 and a beta of 0.60. 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 stock has a 50-day moving average of C$41.34 and a two-hundred day moving average of C$39.20. Quebecor has a 12 month low of C$30.91 and a 12 month high of C$44.76.

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.