RBC Capital Markets raised its price target on Quebecor Inc. (QBR-B.TO) to $64 from $60.
Analyst Drew McReynolds maintained a Sector Perform rating on shares of the Canadian diversified media and telecom company following its quarterly results on Thursday.
The stock rose $4.49, or 7.8%, to $62.07 on the Toronto Stock Exchange.
"Q1/26 financial results for Telecommunications were ahead of our forecast reflecting an ongoing healthy balance of growth and profitability," McReynolds said in a note to clients.
"While the bar of expectations at current valuation in our view is now notably higher, a more constructive pricing environment (for the most part) combined with steady execution on a variety of tactical initiatives and cost-efficiencies should enable this bar to be met as 2026 progresses," the analyst said.
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