Fly News Breaks for October 21, 2019
RCI, BCE, TU
Oct 21, 2019 | 07:44 EDT
TD Securities analyst Vince Valentini upgraded Rogers Communications (RCI) to Action List Buy from Buy citing his favorable view of the company's competitive positioning and valuation compared to its Canadian telco peers. He notes the stock's underperformance year-to-date compared to (BCE) BCE and Telus (TU), adding that in the the four times over the past five years when Rogers has traded near this discount to BCE that the former has seen "material outperformance" in each of the subsequent 3 to 6 month periods. Valentini's forecasts and C$89 price target for Rogers shares remain unchanged.
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