0938 ET - Rogers Communications' growth guidance appears achievable but only if wireless pricing holds steady and the industry avoids a bout of discounting. TD Cowen's Vince Valentini says that his forecasts of 2.8% Ebitda growth and 4.7% service-revenue growth likely sit at the upper end of what management will guide for 2026, yet remain realistic under stable market conditions. There is a wild card, however. Valentini says if the Blue Jays run, plus the Maple Leaf Sports & Entertainment contribution, pushes 4Q EBITDA well above his forecast, then percentage growth off that base becomes more difficult in 2026. Valentini says he sees a risk that management will stay conservative with a range of 0%-3% Ebitda growth. "We believe the company has more recently adopted a deliberate strategy of attempting to set expectations at levels that they can almost certainly attain, and potentially exceed." (adriano.marchese@wsj.com)

(END) Dow Jones Newswires

January 26, 2026 09:38 ET (14:38 GMT)

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