Canada's Rogers a 'top pick' at TD Cowen on improving investor sentiment

June 24, 2025 11:40 AM PDT | By EODHD

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Canada's Rogers a 'top pick' at TD Cowen on improving investor sentiment — Image source: Kalkine Media

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[A Rogers signage at the top of a building.] Marvin Samuel Tolentino Pineda/iStock Editorial via Getty Images TD Cowen on Tuesday named Canadian telecom Rogers (NYSE:RCI [https://seekingalpha.com/symbol/RCI]) as one of their "top picks," as the research firm expects investor sentiment to gradually improve for the sector. Shares of the company rose as much as 4.2% in the U.S. Its Toronto listings have climbed at least 3.5% during today's trading session. Analyst Vince Valentini recently noted that the wireless industry price competition has become less negative and less aggressive compared to the end of the first quarter. His current view on the sector is supported by the encouraging pricing data and his team’s recent analysis on the large percentage of wireless subs that have already re-priced lower in the past two years.

Valentini noted that the company closed its C$7B infrastructure funding with Blackstone (BX [https://seekingalpha.com/symbol/BX]), while its C$4.7B MLSE deal with BCE (BCE [https://seekingalpha.com/symbol/BCE]) is on track to close early next month. He believes these transactions would start the clock on RCI finalizing negotiations with new private investors in its sports teams (MLSE and Blue Jays) and sees it "as a very meaningful catalyst for the stock over the next 3-6 months (possibly even sooner than that).” TD Cowen has hiked the price target to C$60 from C$56, implying an upside of at least 42% on both its Canadian listings. MORE ON ROGERS COMMUNICATIONS INC. * Rogers Communications: Way Too Cheap At 7x P/E [https://seekingalpha.com/article/4779580-rogers-communications-way-too-cheap-at-7x-pe] * Rogers Communications Inc. (RCI) Q1 2025 Earnings Call Transcript [https://seekingalpha.com/article/4777253-rogers-communications-inc-rci-q1-2025-earnings-call-transcript] * Rogers Communications Inc.

2025 Q1 - Results - Earnings Call Presentation [https://seekingalpha.com/article/4777209-rogers-communications-inc-2025-q1-results-earnings-call-presentation] * Rogers Non-GAAP EPS of C$0.99, revenue of C$4.98B;reaffirms FY25 outlook [https://seekingalpha.com/news/4433887-rogers-non-gaap-eps-of-c099-revenue-of-c498breaffirms-fy25-outlook] * Historical earnings data for Rogers Communications Inc. [https://seekingalpha.com/symbol/RCI.B:CA/earnings]

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