Analyst Vince Valentini of TD Cowen maintained a Buy rating on Quebecor, boosting the price target to C$52.00.
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Vince Valentini has given his Buy rating due to a combination of factors, including Quebecor’s strong performance in the third quarter of 2025, which surpassed expectations in various areas. The company showed significant momentum in its wireless segment, with improvements in pricing discipline and better-than-expected subscriber additions in its internet services. These positive trends have led to an increase in EBITDA, EPS, and FCF estimates for the years 2025 through 2027.
Additionally, Valentini has adjusted the target valuation to 2027, incorporating a 10% time value discount, which contributed to a $3.00 increase in the target price to C$52.00. Despite a conservative approach to forecasting free cash flow (FCF) for 2027, the current FCF performance has been higher than anticipated, providing a solid foundation for the rating. Furthermore, there are no immediate concerns about capital expenditure spikes, as telecom segment capex has been trending below guidance, indicating a stable financial outlook for Quebecor.
In another report released today, J.P. Morgan also initiated coverage with a Buy rating on the stock with a C$56.00 price target.