CIBC Forecasts Strong Price Appreciation for Quebecor (TSE:QBR.B) Stock

Quebecor (TSE:QBR.B) had its target price boosted by equities research analysts at CIBC from C$49.00 to C$54.00 in a report issued on Friday,BayStreet.CA reports. CIBC’s price objective suggests a potential upside of 13.88% from the stock’s current price.

QBR.B has been the subject of several other reports. Canaccord Genuity Group upped their price objective on shares of Quebecor from C$40.75 to C$43.25 in a report on Thursday, July 10th. Scotiabank lifted their target price on shares of Quebecor from C$43.25 to C$43.50 and gave the company a “sector perform” rating in a research note on Monday, October 20th. Royal Bank Of Canada downgraded shares of Quebecor from an “outperform” rating to a “sector perform” rating and increased their price target for the stock from C$45.00 to C$46.00 in a research note on Wednesday, October 15th. National Bankshares raised their price objective on shares of Quebecor from C$42.00 to C$45.00 and gave the stock an “outperform” rating in a report on Wednesday, September 17th. Finally, TD Securities lifted their price objective on Quebecor from C$46.00 to C$49.00 and gave the company a “buy” rating in a research report on Monday, October 20th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of C$47.22.

Quebecor Trading Up 1.8%

Shares of Quebecor stock traded up C$0.83 during midday trading on Friday, reaching C$47.42. 1,199,351 shares of the company’s stock traded hands, compared to its average volume of 970,601. The stock has a 50 day moving average of C$43.66 and a 200-day moving average of C$40.83. Quebecor has a 12 month low of C$30.02 and a 12 month high of C$48.25. The company has a market cap of C$10.88 billion, a PE ratio of 14.20, a price-to-earnings-growth ratio of 1.43 and a beta of 0.57. The company has a debt-to-equity ratio of 363.97, a quick ratio of 0.35 and a current ratio of 1.01.

Quebecor Company Profile

Quebecor primarily provides mobile and fixed-line telecom services in Quebec where it is the leading telecom provider. With more than 1.8 million internet subscribers Quebecor provides internet service to more than 60% of the homes its network passes. It also has about 1.6 million mobile subscribers representing more than 20% wireless market share in Quebec.