BMO Capital analyst Tim Casey upgraded the rating on Quebecor to a Buy today, setting a price target of C$47.00.
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Tim Casey has given his Buy rating due to a combination of factors that highlight Quebecor’s strong market position and growth potential. The company is poised to outperform in the wireless sector, with expectations of capturing a significant share of subscriber net additions, leading to robust service revenue growth compared to its peers. Additionally, Quebecor’s wireline business is expected to stabilize as competitive pressures ease, supported by strategic frameworks and potential opportunities.
Quebecor’s financial health further supports this positive outlook. The company boasts the lowest leverage ratio among its peers, which enhances its ability to invest in network improvements and expansions. Furthermore, Quebecor’s commitment to shareholder returns is evident through ongoing share buybacks and dividend increases, with a projected payout ratio of approximately 30%. These factors collectively contribute to the upgraded rating and increased target price, reflecting confidence in Quebecor’s future performance.
In another report released on August 20, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a C$47.00 price target.