Canaccord Genuity Lowers Cogeco Communications Inc (CCA) to Hold

Cogeco Communications Inc (TSE:CCA) was downgraded by equities researchers at Canaccord Genuity from a “buy” rating to a “hold” rating in a research note issued on Monday. They currently have a C$93.00 price objective on the stock, up from their prior price objective of C$89.00. Canaccord Genuity’s price objective indicates a potential upside of 9.54% from the stock’s previous close.

A number of other brokerages have also commented on CCA. National Bank Financial lifted their price target on Cogeco Communications from C$82.00 to C$92.00 and gave the stock a “sector perform” rating in a report on Wednesday, November 1st. Macquarie lowered Cogeco Communications from an “outperform” rating to a “neutral” rating and set a C$90.00 price target on the stock. in a report on Wednesday, September 20th. Scotiabank set a C$102.00 price target on Cogeco Communications and gave the stock an “outperform” rating in a report on Monday. BMO Capital Markets set a C$94.00 price target on Cogeco Communications and gave the stock a “market perform” rating in a report on Monday. Finally, TD Securities lifted their price target on Cogeco Communications from C$80.00 to C$83.00 and gave the stock a “reduce” rating in a report on Tuesday, July 18th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of C$90.72.

Shares of Cogeco Communications (TSE:CCA) traded down C$5.77 during trading on Monday, reaching C$84.90. The company had a trading volume of 204,003 shares, compared to its average volume of 84,512. Cogeco Communications has a 1-year low of C$60.62 and a 1-year high of C$95.21.

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Cogeco Communications Company Profile

Cogeco Communications Inc, formerly Cogeco Cable Inc, is a Canada-based communications company. The Company provides residential and business customers with video, Internet and telephony services through its two-way broadband fiber networks. The Company operates through three segments: Canadian broadband services, American broadband services and Business information and communications technology (Business ICT) services.

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