Quebecor (TSE:QBR.B) Rating Increased to Outperform at Royal Bank of Canada

Quebecor (TSE:QBR.B) was upgraded by research analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a research report issued on Wednesday,BayStreet.CA reports. The brokerage currently has a C$39.00 target price on the stock, up from their prior target price of C$37.00. Royal Bank of Canada’s price target points to a potential upside of 23.57% from the company’s current price.

Several other research analysts also recently weighed in on QBR.B. BMO Capital Markets increased their price target on shares of Quebecor from C$35.00 to C$37.00 in a research report on Thursday, September 5th. Scotiabank reduced their price target on Quebecor from C$38.00 to C$37.00 in a research report on Tuesday, November 26th. CIBC increased their target price on shares of Quebecor from C$39.00 to C$40.00 in a report on Friday, November 8th. Finally, TD Securities reduced their price objective on shares of Quebecor from C$40.00 to C$39.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$38.19.

Quebecor Stock Performance

Shares of QBR.B opened at C$31.56 on Wednesday. Quebecor has a one year low of C$27.84 and a one year high of C$35.90. The firm has a market capitalization of C$4.98 billion, a P/E ratio of 9.96, a PEG ratio of 1.43 and a beta of 0.39. The company has a debt-to-equity ratio of 363.97, a current ratio of 1.01 and a quick ratio of 0.35. The business has a fifty day moving average of C$33.50 and a 200 day moving average of C$31.97.

Quebecor Company Profile

Quebecor Inc operates in the telecommunications, media, and sports and entertainment businesses in Canada. Its Telecommunications segment offers television distribution, Internet access, business solutions, cable and mobile telephony, and over-the-top video services; and engages in the rental of movies, televisual products, and video games through its video-on-demand service and video rental stores.