There's a new set of eyes watching Canadian telecom and cable plays, as Desjardins Securities launches coverage of the sectors Wednesday with Rogers Communications, Telus and Quebecor as its top picks.
Desjardins, a Montreal-based investment dealer that has long aspired to be a national player, hired analyst Maher Yaghi to cover eight domestic companies. This is well-trodden ground, as a quick glance at Bloomberg shows there are 18 analysts following Rogers, and 20 publishing on Telus.
In a note to clients on Wednesday, Mr. Yaghi put a buy on Rogers "as a solid wireless play," endorsed Telus "owing to its attractive valuation" and picked Quebecor as an "emerging as a growth story."
Desjardins initiated coverage on BCE, Bell Aliant, Cogeco Cable, Manitoba Tel and Shaw Communications with a 'hold" recommendation.