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Rogers Communications Inc. (RCI-B:CA): Scotiabank Updated Coverage

Stock Target Advisor News - Stock Target Advisor - Tue Jan 20, 11:42PM CST

Rogers Communications (RCI-B:CA) (RCI)

Analyst Update

Scotiabank trimmed its 12 month target price on Rogers to $57.75 from $58.00 while reiterating a “Sector Perform” rating. The target reduction reflects a cautious near-term outlook as competitive intensity in the Canadian wireless market remains elevated, pressuring pricing and promotional activity. While Rogers continues to benefit from solid wireless subscriber additions, stable cable operations, and ongoing cost and revenue synergies from its recent acquisition, Scotiabank believes these positives are largely offset by higher leverage, integration execution risk, and regulatory uncertainty. As a result, the firm expects Rogers shares to perform broadly in line with the telecom sector rather than materially outperform in the near term.

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