National Bank analyst Adam Shine downgraded Shaw Communications (SJR) to Sector Perform from Outperform with an unchanged C$40.50 price target following the Tribunal dismissal of the application of the Competition Bureau, CB, to block the Rogers (RCI) deal on December 29. CB is not yet prepared to "fold a losing hand", but nothing would stop it from trying to appeal to the Supreme Court, and the companies would then likely push out their January 31 outside date, the analyst tells investors in a research note. Shine adds that it is not clear how much longer this process take based on CB’s push for injunction or appeal.
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Published first on TheFly
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Read More on SJR:
- Shaw Communications price target raised to C$40.50 from C$39 at Scotiabank
- Shaw downgraded to Sector Perform from Outperform at RBC Capital
- Shaw Communications Statement on Decision by Competition Tribunal
- Shaw Declares Monthly Dividends
- Rogers and Shaw Issue Statement on Commissioner of Competition’s Application for an Injunction and Appeal of the Tribunal Decision