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CIBC Reaffirms Their Buy Rating on Rogers Communication (RCI)

In a report released today, Robert Bek from CIBC maintained a Buy rating on Rogers Communication (RCIResearch Report), with a price target of C$69.00. The company’s shares closed today at $41.77.

According to TipRanks, Bek is a 5-star analyst with an average return of 10.9% and a 60.63% success rate.

Currently, the analyst consensus on Rogers Communication is a Strong Buy with an average price target of $52.92, representing a 26.69% upside. In a report released on October 20, Canaccord Genuity also maintained a Buy rating on the stock with a C$63.00 price target.

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Based on Rogers Communication’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $3.87 billion and a net profit of $409 million. In comparison, last year the company earned a revenue of $3.58 billion and had a net profit of $302 million

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Incorporated in 1960, Canada-based Rogers Communications, Inc. provides wireless communications services. It operates its business through the following segments: Wireless, Cable, and Media.

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