As previously reported, TD Securities upgraded Rogers Communications (RCI) to Buy from Hold with a price target of C$60, up from C$56. The company’s “much lower” capex guidance drives higher free cash flow and earnings estimates, the analyst tells investors in a research note. TD now also has more confidence in wireless industry pricing and the prospects for sports monetization at Rogers.
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Read More on RCI:
- Rogers Communications price target raised to C$58 from C$55.50 at Canaccord
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