- The surprising exit of Guy Laurence from the helm of Rogers Communications (RCI +0.6%) -- along with earnings released a few days early -- has analysts abuzz about prospects at the Canadian telecom.
- RBC Capital and Scotiabank reiterated Outperform ratings today, with price targets of C$56 and C$60 respectively (vs. today's close in Toronto of A shares at C$55.01).
- Improving performance in wireless and cable subscribers sets up well for the coming year, says RBC's Drew McReynolds, and Scotiabank's Jeff Fan thinks momentum is good enough for the coming quarters with interim chief Alan Horn -- though a lengthy transition before Joe Natale takes over (due to his non-compete agreement, which could run to Aug. 1) has Fan worried other senior management may leave.
- Credit Suisse stayed Neutral on the stock but bumped its price target to $54 from $53. Meanwhile, Macquarie's Greg MacDonald (C$60 price target) is OK with the "musical chairs" at the top since Natale (a former chief at Telus) looks to have stronger operating skills in both wireline and wireless. Laurence may have done his "fix-it" job of trimming management and improving operations.