Cogeco Inc. (CGO) Cut to “Hold” at TD Securities
Cogeco Inc. (TSE:CGO) was downgraded by equities research analysts at TD Securities from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday. They currently have a C$95.00 price target on the stock. TD Securities’ target price points to a potential upside of 12.57% from the company’s previous close.
Separately, Royal Bank Of Canada reissued a “sector perform” rating on shares of Cogeco in a research note on Tuesday, July 4th.
Shares of Cogeco (CGO) traded down 2.05% during mid-day trading on Friday, reaching $82.66. The company had a trading volume of 25,673 shares. Cogeco has a 12-month low of $47.55 and a 12-month high of $84.81. The firm has a market capitalization of $1.37 billion and a PE ratio of 11.88. The stock has a 50 day moving average price of $80.45 and a 200 day moving average price of $71.33.
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In related news, insider Elizabeth Alves sold 474 shares of Cogeco stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of C$75.80, for a total transaction of C$35,929.20.
Cogeco Inc is a holding company, which operates in the communications and media sectors. The Company operates through two segments: Communications and Other. The Communications segment, through the Company’s subsidiary, Cogeco Communications Inc (Cogeco Communications), provides its residential and business customers with video, Internet and telephony services through its two-way broadband fiber networks.
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