RBC Capital raised the firm’s price target on Rogers Communications to C$66 from C$65 and keeps an Outperform rating on the shares. Despite coming at a slightly higher purchase price and accelerated timeline relative to RBC’s expectations, the company’s acquisition of a majority stake in Maple Leaf Sports & Entertainment is seen as a logical outcome that is consistent with Rogers’ strategy and desire to invest in sports assets, the analyst tells investors in a research note.
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