Canaccord Genuity analyst Aravinda Galappatthige maintained a Buy rating on Quebecor today and set a price target of C$43.25.
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Aravinda Galappatthige has given his Buy rating due to a combination of factors including Quebecor’s performance in the wireless segment and its overall market position. Despite a mixed quarter, the wireless division showed resilience with net additions surpassing expectations, indicating strong customer acquisition compared to peers.
Although the Media division faced challenges with declining profitability, the Telecom segment remained stable, contributing positively to the company’s financials. The company’s valuation, based on future EBITDA multiples, also supports the Buy rating, reflecting potential growth in the wireless and cable segments. Overall, the strategic positioning in Quebec and the ability to maintain steady revenues in key areas underpin the positive outlook for Quebecor’s stock.
In another report released on July 29, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a C$44.00 price target.