Cogeco Communications (CGEAF) Gets a Buy Rating from National Bank

In a report released today, Adam Shine from National Bank maintained a Buy rating on Cogeco Communications (CGEAFResearch Report), with a price target of C$115.00. The company’s shares closed last Monday at $65.65, close to its 52-week low of $64.25.

According to TipRanks.com, Shine is a 2-star analyst with an average return of -1.5% and a 50.9% success rate. Shine covers the Services sector, focusing on stocks such as Shaw Communications, Thomson Reuters, and Cineplex.

Cogeco Communications has an analyst consensus of Hold, with a price target consensus of $79.74.

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Based on Cogeco Communications’ latest earnings release for the quarter ending November 30, the company reported a quarterly revenue of $587 million and net profit of $84.18 million. In comparison, last year the company earned revenue of $577 million and had a net profit of $70.17 million.

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Cogeco Communications, Inc. is a communications company, which provides Internet, video and telephony services to residential and business customers. It operates through the Canadian Broadband Services and American Broadband Services segments. The Canadian Broadband Services segment activities are carried out by Cogeco Connexion in the provinces of Québec and Ontario. The American Broadband Services segment activities are carried out by Atlantic Broadband in 11 states, which are Connecticut, Delaware, Florida, Maine, Maryland, New Hampshire, New York, Pennsylvania, South Carolina, Virginia, and West Virginia. The company was founded by Henri Audet in 1972 and is headquartered in Montréal, Canada.