Shaw Communications (SJR) Gets a Buy Rating from CIBC

CIBC analyst Robert Bek reiterated a Buy rating on Shaw Communications (SJRResearch Report) yesterday and set a price target of C$28.00. The company’s shares closed last Monday at $20.15.

According to TipRanks.com, Bek is a 4-star analyst with an average return of 11.4% and a 70.1% success rate. Bek covers the Services sector, focusing on stocks such as Corus Entertainment, Thomson Reuters, and WildBrain.

Currently, the analyst consensus on Shaw Communications is a Strong Buy with an average price target of $23.12.

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Based on Shaw Communications’ latest earnings release for the quarter ending November 30, the company reported a quarterly net profit of $123 million. In comparison, last year the company had a net profit of $143 million.

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Shaw Communications, Inc. engages in the provision of cable telecommunications and satellite video services. The company was founded by James Robert Shaw on December 9, 1966 and is headquartered in Calgary, Canada.