Cogeco Communications Inc (CCA) Rating Lowered to Hold at Desjardins
Cogeco Communications Inc (TSE:CCA) was downgraded by investment analysts at Desjardins from a “buy” rating to a “hold” rating in a research note issued on Tuesday. They currently have a C$87.50 price target on the stock, up from their previous price target of C$79.00. Desjardins’ price objective suggests a potential upside of 6.59% from the stock’s current price.
Other analysts also recently issued reports about the stock. TD Securities upped their price objective on shares of Cogeco Communications from C$78.00 to C$80.00 and gave the stock a “hold” rating in a report on Monday, April 10th. Royal Bank Of Canada upped their price objective on shares of Cogeco Communications from C$76.00 to C$81.00 and gave the stock a “sector perform” rating in a report on Tuesday. BMO Capital Markets reaffirmed a “market perform” rating and set a C$82.00 price objective on shares of Cogeco Communications in a report on Tuesday. Scotiabank reaffirmed an “outperform” rating and set a C$78.00 price objective on shares of Cogeco Communications in a report on Tuesday, July 4th. Finally, Barclays PLC downgraded shares of Cogeco Communications from an “equal weight” rating to an “underweight” rating and upped their price objective for the stock from C$70.00 to C$75.00 in a report on Tuesday, April 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of C$81.07.
Cogeco Communications (TSE CCA) traded up 0.57% during trading on Tuesday, hitting $82.56. 33,914 shares of the company traded hands. The firm’s market cap is $4.06 billion. The firm has a 50 day moving average of $78.70 and a 200 day moving average of $73.48. Cogeco Communications has a one year low of $60.12 and a one year high of $82.84.
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Cogeco Communications Company Profile
Cogeco Communications Inc, formerly Cogeco Cable Inc, is a Canada-based communications company. The Company provides residential and business customers with video, Internet and telephony services through its two-way broadband fiber networks. The Company operates through three segments: Canadian broadband services, American broadband services and Business information and communications technology (Business ICT) services.
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