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RBC Capital Thinks Quebecor’s Stock is Going to Recover

In a report issued on May 12, Drew Mcreynolds from RBC Capital maintained a Buy rating on Quebecor (QBCRFResearch Report), with a price target of C$36.00. The company’s shares closed last Friday at $21.20, close to its 52-week low of $20.15.

According to TipRanks.com, Mcreynolds is a 5-star analyst with an average return of 9.2% and a 55.4% success rate. Mcreynolds covers the Technology sector, focusing on stocks such as Enthusiast Gaming Holdings, Rogers Communication, and Thomson Reuters.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Quebecor with a $26.40 average price target, which is a 30.7% upside from current levels. In a report released yesterday, BMO Capital also maintained a Buy rating on the stock with a C$35.00 price target.

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Based on Quebecor’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.18 billion and net profit of $161 million. In comparison, last year the company earned revenue of $1.15 billion and had a net profit of $160 million.

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Quebecor, Inc. engages in the provision of telecommunications, entertainment, and news media services. It operates through the following business segments: Telecommunications, Media, and Sports & Entertainment. The Telecommunications segment provides mobile devices and services under contracts with multiple deliverables and for a fixed period of time. The Sports & Entertainment segment provides book publishing, music distribution and production operations. The media segment operation of an over-the-air television network and specialty television services, soundstage and equipment leasing and post-production services for the film and television industries. The company was founded by Pierre Péladeau on January 8, 1965 and is headquartered in Montreal, Canada.

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