Canaccord Genuity analyst Aravinda Galappatthige maintained a Buy rating on Quebecor today and set a price target of C$43.50.
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Aravinda Galappatthige has given his Buy rating due to a combination of factors including Quebecor’s strong financial performance in the recent quarter. The company reported higher-than-expected profitability, driven by robust Telecom revenues and effective cost management. Notably, the wireless segment showed impressive subscriber growth, with net additions significantly surpassing expectations, indicating a strong market position.
Furthermore, Quebecor’s consolidated adjusted EBITDA exceeded forecasts, with contributions from both the Telecom and Media divisions. The company’s balance sheet remains stable, and the valuation metrics used, such as EV/EBITDA multiples, suggest a favorable outlook for the stock. These elements combined support the Buy rating, reflecting confidence in Quebecor’s continued growth and financial health.
Galappatthige covers the Communication Services sector, focusing on stocks such as BCE, Rogers Communication, and Telus. According to TipRanks, Galappatthige has an average return of -0.4% and a 47.76% success rate on recommended stocks.