TD Securities raised its price target on Rogers Communications (RCI-B.TO) to C$65 from C$60 on Thursday.
Analyst Vince Valentini maintained a Buy rating on shares of the Canadian media and telecom company.
"We know that RCI.B shares were down after the results, but we see no sustainable reason for the decline and our update to forecasts and valuation points to a positive conclusion," Valentini said in a note to clients.
"Given recent events and management commentary, we have more confidence in both FCF increasing (via lower capex) and sports being monetized at an attractive valuation in a timely fashion," the analyst said.
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