CIBC Issues Pessimistic Forecast for Cogeco (TSE:CGO) Stock Price

Cogeco (TSE:CGO - Get Free Report) had its price objective dropped by equities research analysts at CIBC from C$67.00 to C$64.00 in a research report issued on Wednesday,BayStreet.CA reports. CIBC's price target suggests a potential upside of 18.67% from the company's previous close.

Several other equities analysts have also recently issued reports on CGO. TD Securities raised their price objective on Cogeco from C$99.00 to C$104.00 in a research note on Monday, November 4th. Canaccord Genuity Group upgraded shares of Cogeco from a "hold" rating to a "buy" rating and raised their price target for the stock from C$65.00 to C$77.00 in a research report on Monday, November 4th.

Cogeco Stock Performance

TSE:CGO traded down C$0.55 during trading hours on Wednesday, reaching C$53.93. 61,162 shares of the stock were exchanged, compared to its average volume of 25,813. The stock has a market capitalization of C$426.59 million, a P/E ratio of 6.43, a P/E/G ratio of -0.28 and a beta of 0.34. The firm has a 50 day simple moving average of C$60.04 and a 200-day simple moving average of C$57.21. The company has a quick ratio of 0.51, a current ratio of 0.44 and a debt-to-equity ratio of 151.56. Cogeco has a 52 week low of C$46.25 and a 52 week high of C$65.34.

Cogeco Company Profile

Cogeco Inc is a telecommunications company. The company has two reportable operating segments, namely Canadian broadband services and American broadband services. The Canadian and American broadband services segments provide a wide range of Internet, video, and telephony services primarily to residential customers, as well as business services across their coverage areas.