Rogers Communication, the Communication Services sector company, was revisited by a Wall Street analyst yesterday. Analyst Tim Casey from BMO Capital maintained a Buy rating on the stock and has a C$60.00 price target.
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Tim Casey has given his Buy rating due to a combination of factors that indicate a positive outlook for Rogers Communications. The wireless market is showing signs of stabilization, with less aggressive promotional activities and maintained price increases, which bodes well for the company’s future performance. Although there is a slight decrease in service revenue and EBITDA projections due to roaming and wholesale challenges, the overall environment remains favorable.
Rogers is also seeing progress in its cable segment, with expected revenue growth supported by subscriber gains and product offerings. Additionally, the company’s strategic positioning in sports and media assets presents a potential for significant value realization. Despite a modest reduction in revenue forecasts, Rogers’ strong distribution scale and improving organic cable revenue contribute to the optimistic rating. The company’s efforts in deleveraging and reducing capital intensity further support the positive outlook.
In another report released on September 26, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a C$54.00 price target.
Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is neutral on the stock.