Cogeco (TSE:CGO) Upgraded at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Cogeco (TSE:CGO - Free Report) from a hold rating to a buy rating in a report published on Monday, BayStreet.CA reports. Canaccord Genuity Group currently has C$77.00 price target on the stock, up from their previous price target of C$65.00.

Several other research analysts have also recently issued reports on the company. CIBC decreased their price target on Cogeco from C$69.00 to C$67.00 in a research note on Monday. TD Securities upped their price objective on shares of Cogeco from C$99.00 to C$104.00 in a report on Monday.

Cogeco Stock Performance

Shares of TSE CGO traded up C$1.65 during midday trading on Monday, hitting C$61.68. 22,542 shares of the company's stock were exchanged, compared to its average volume of 20,152. Cogeco has a twelve month low of C$44.62 and a twelve month high of C$62.88. The firm has a market cap of C$487.89 million, a P/E ratio of 7.22, a PEG ratio of -0.28 and a beta of 0.34. The stock's 50 day moving average price is C$57.92 and its 200-day moving average price is C$53.96. The company has a debt-to-equity ratio of 151.56, a current ratio of 0.44 and a quick ratio of 0.51.

About Cogeco

Cogeco Inc, through its subsidiaries, operates in the communications and media sectors in Canada and the United States. The company operates in two segments, Canadian Telecommunications and American Telecommunications. It provides a range of Internet, video, and phone services through advanced fibre optic and two-way telecommunications distribution networks primarily to residential customers, as well as business services under the Cogeco Connexion name in Quebec and Ontario; and Breezeline brand in the United States.