- With shares down 17% going into today, Canaccord's Dvai Ghose has upgraded Rogers (NYSE:RCI) to Buy. His target is at C$46 ($40.70).
- Ghose thinks the Canadian carrier's wireless ARPU could be better than expected, and that it's addressing its service quality issues. He also likes Rogers' limited TV exposure, and considers worries about mobile regulatory risk overblown.
- Nonetheless, he's still worried about the customer service issues and high churn, as well as high debt, a declining video base, a "questionable" IPTV overlay strategy, and the "potential inability to fully monetize" Rogers' $5.2B NHL deal.