Canaccord Genuity Group Upgrades Cogeco Communications (TSE:CCA) to Buy

Canaccord Genuity Group upgraded shares of Cogeco Communications (TSE:CCA - Free Report) from a hold rating to a buy rating in a research report sent to investors on Monday morning, BayStreet.CA reports. The firm currently has C$77.00 target price on the stock, up from their prior target price of C$65.00.

CCA has been the topic of several other reports. Bank of America upgraded Cogeco Communications from an "underperform" rating to a "buy" rating and boosted their price target for the company from C$60.00 to C$65.00 in a research note on Wednesday, July 17th. TD Securities boosted their price objective on Cogeco Communications from C$85.00 to C$89.00 in a research report on Monday. National Bankshares raised Cogeco Communications from a "sector perform" rating to an "outperform" rating and raised their target price for the stock from C$64.00 to C$80.00 in a research report on Friday, September 20th. Royal Bank of Canada boosted their price target on shares of Cogeco Communications from C$76.00 to C$79.00 in a report on Thursday, October 10th. Finally, Scotiabank raised their price objective on shares of Cogeco Communications from C$73.50 to C$77.50 in a report on Monday. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of C$75.50.

Cogeco Communications Stock Performance

TSE CCA traded up C$0.69 during midday trading on Monday, hitting C$69.94. The company had a trading volume of 114,114 shares, compared to its average volume of 76,654. The firm has a fifty day simple moving average of C$67.92 and a two-hundred day simple moving average of C$60.46. Cogeco Communications has a fifty-two week low of C$50.78 and a fifty-two week high of C$72.40. The company has a quick ratio of 0.49, a current ratio of 0.41 and a debt-to-equity ratio of 142.88. The stock has a market cap of C$2.10 billion, a price-to-earnings ratio of 9.00, a P/E/G ratio of 4.77 and a beta of 0.59.

Cogeco Communications Company Profile

Cogeco Communications Inc operates as a telecommunications corporation in Canada and the United States. It operates in two segments, Canadian Telecommunications and American Telecommunications. The company offers Internet, video, and Internet protocol (IP) based telephony services to residential and small business customers through its two-way broadband fiber networks.