Quebecor Inc Cl A MV Gets a Buy Rating from Scotiabank

By Jason Carr

Wall Street analyst has provided a review for the Technology company today, but retained the same rating on the stock. Analyst Jeff Fan from Scotiabank remains bullish on Quebecor Inc Cl A MV (TSX: QBR.A) and has a C$50 price target.

According to TipRanks.com, Fan is a 4-star analyst with an average return of 6.3% and a 81.8% success rate. Fan covers the Technology sector, focusing on stocks such as Rogers Communication, BlackBerry, and BCE Inc.

Currently, the analyst consensus on Quebecor Inc Cl A MV is Strong Buy and the average price target is C$47, representing a 16.5% upside.

In a report issued on May 12, Canaccord Genuity also reiterated a Buy rating on the stock with a C$44 price target.

Based on Quebecor Inc Cl A MV’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of C$996 million and GAAP net loss of C$200K. In comparison, last year the company earned revenue of C$975 million and had a net profit of C$69.9 million.

Quebecor, Inc. provides telecommunications, entertainment and news media services. It is engaged in cable and mobile telecommunications; newspaper publishing; production and distribution of print media products; broadcasting; retailing, publishing and distribution of books, magazines, DVDs, Blu-ray discs and video games; music recording, production, distribution and streaming; production of shows and events, new media services, video game development, out of home advertising. The company operates through the following business segments: Telecommunications, News Media, Sports and Entertainment. Quebecor was founded by Pierre Peladeau on January 8, 1965 and is headquartered in Montreal, Canada.

The company’s shares closed last Friday at $40.34.