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Cogeco Comms lower again as analysts react to miss

Jan. 12, 2018 12:23 PM ETRogers Communications Inc. (RCI) Stock, RCI.B:CA StockRCI, CGEAFBy: Jason Aycock, SA News Editor
  • Cogeco Communications (CGEAF -0.7%) is trading lower again after posting a miss in its Q1 earnings.
  • Shares are down 1.3% in Toronto to C$81.50.
  • The stock may be seeing an overhang from speculation that Rogers (NYSE:RCI) might divest its stake, says National Bank's Adam Shine, who has lowered his price target to C$88 from C$96.
  • Echelon's Rob Goff sees share pressure coming from the tough Q1 after a stronger 2017 (and lowered target to C$96), but overall thinks the stock is "modestly undervalued."
  • Macquarie, meanwhile, has upgraded shares to Neutral and set a price target of C$90 (implying 10% upside from current price).
  • Earnings slides

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