Highlights
• Scotiabank increases Rogers’ price target to C$57.75 from C$55.75.
• Multiple brokerages raise targets, with most maintaining Buy ratings.
• Consensus rating stands at “Moderate Buy” with average target of C$56.23.

Scotiabank raised its target price for Rogers Communications Inc. (TSE:RCI.B)) to C$57.75 from C$55.75 in a research note released Sunday, according to BayStreet.ca. The firm maintained a “sector perform” rating on the stock. 

Broader Analyst Activity

Several other firms also adjusted their views recently:

  • Desjardins increased its price objective from C$53.00 to C$56.00 and rated the stock Buy.
  • JPMorgan Chase & Co. raised its target from C$55.00 to C$59.00 in a July 25th note.
  • Canaccord Genuity Group lifted its target from C$55.00 to C$57.00, maintaining a Buy outlook.
  • TD Securities moved its target from C$62.00 to C$64.00, also issuing a Buy rating.
  • BMO Capital Markets adjusted its target to C$57.00 and rated the stock Outperform.

Consensus View

Data from MarketBeat.com shows that eight analysts rate Rogers as Buy, while two assign a Hold. The consensus rating is “Moderate Buy”, with a mean target price of C$56.23.

Company Overview

Rogers Communications is one of Canada’s leading telecommunications providers, serving over 10 million wireless subscribers. The wireless segment accounts for around 60% of total revenue, underscoring its central role in the business model. Over recent years, this division has expanded its contribution to the company’s overall performance.