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 - Get Free Report) had its target price hoisted by research analysts at Scotiabank from C$40.50 to C$43.25 in a note issued to investors on Monday,BayStreet.CA reports. The brokerage presently has a "sector perform" rating on the stock. Scotiabank's price target would suggest a potential downside of 0.87% from the company's previous close.

Quebecor Stock Down 0.6%

QBR.A stock traded down C$0.28 during mid-day trading on Monday, hitting C$43.63. The stock had a trading volume of 2,303 shares, compared to its average volume of 1,485. Quebecor has a 1-year low of C$30.91 and a 1-year high of C$44.02. The company has a current ratio of 1.01, a quick ratio of 0.35 and a debt-to-equity ratio of 363.97. The stock has a market capitalization of C$10.01 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 1.44 and a beta of 0.60. The company has a fifty day moving average of C$41.09 and a 200 day moving average of C$38.92.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.