Rogers Communications Inc. (RCI-B.TO, RCI) was upgraded to buy from hold at Desjardins.

Analyst Jerome Dubreuil maintained a price target of CA$58 on shares of the Canadian media and telecom company.

"While the Canadian telecom backdrop remains challenging, the (free cash flow) benefits from the recent impressive capex cut and the quiet promotional activity during back-to-school season make the elevated leverage easier to accept," the analyst said.

(MT Newswires 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.mtnewswires.com/contact-us)