Research
Quebecor Upgraded to Buy at TD
Quebecor Inc. (QBR-B.TO) was upgraded to Buy from Hold at TD Securities on Thursday.Analyst Vince Valentini raised his price target on shares of the Canadian media and telecom company to $63 from $60."Pricing in the Canadian wireless market has continued to improve slightly in April, so our fears of an escalating price war (including an aggressive response from QBR/Freedom) have diminished," Valentini said in a note to clients."Furthermore, with an ARPU starting point of nera $35, QBR faces less downside repricing risk if competitive tension gets worse again," the analyst said."This backdrop, combined with the recent 9% pullback for the stock, has allowed us to revisit our thesis," Valentini said."Updating for our end of quarter channel checks, we expect solid underlying EBITDA and FCF results in Q1/26, which have pushed up our estimates for FY27 (less impact on Q1/26 or FY26 results owing to yet another quarter of elevated non-cash stock-based compensation expense)."(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
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