RBC Capital analyst Drew McReynolds downgraded Shaw Communications (SJR) to Sector Perform from Outperform with an unchanged price target of C$40.50. The downgrade follows the run-up in the shares through the Tribunal hearings and with the Tribunal decision, McReynolds tells investors in a research note. In light of the remaining potential paths to the Rogers (RCI) deal closing, at current levels McReynolds looks for investment opportunities elsewhere within the Canadian telecom sector.
Published first on TheFly
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- Shaw Communications Statement on Decision by Competition Tribunal
- Shaw Declares Monthly Dividends
- Rogers and Shaw Issue Statement on Commissioner of Competition’s Application for an Injunction and Appeal of the Tribunal Decision
- Shaw, Rogers ‘committed’ to deal despite Commissioner of Competition appeal
- Shaw Communications rises 9.4%
