Cogeco Commun Receives a Hold from Canaccord Genuity

By Carrie Williams

Wall Street analyst has provided a review for the Services company today, but retained the same rating on the stock. Cogeco Commun (TSX: CCA) received a Hold rating from Canaccord Genuity’s analyst Aravinda Galappatthige, with a C$73 price target.

According to TipRanks.com, Galappatthige is a 1-star analyst with an average return of -2.2% and a 50.0% success rate. Galappatthige covers the Services sector, focusing on stocks such as Shaw Communications Inc, Thomson Reuters Corp, and IMAX Corp.

Currently, the analyst consensus on Cogeco Commun is Moderate Buy and the average price target is C$80.25, representing a 20.6% upside.

In a report issued on April 10, RBC Capital also reiterated a Hold rating on the stock with a C$86 price target.

Cogeco Commun’s market cap is currently C$3.28B and has a P/E ratio of 10.9.

Cogeco Communications, Inc. is a telecommunications company, which is a hybrid fibre coaxial cable operator in Ontario and Quebec. It provides cable television, high speed Internet, telephony, managed information technology and infrastructure and other telecommunications services.

The company’s shares closed on Friday at C$66.55, close to its 52-week low of C$66.04.