0911 ET - TD Cowen is returning Rogers Communications to a buy rating after a sector-wide downgrade on the back of competitive mobile intensity. Analyst Vince Valentini says 1Q results were slightly better-than-expected in most key areas, including wireless pricing in April and more users subscribed to its network. He also says that lower capital expenditure outlook is positive for cash generation, which came as a surprise, and the new lower level is one that should be sustainable even if macro trends improve. He has returned the stock rating to a buy from a hold. TD Cowen had downgraded Rogers to hold in early April, along with telecom peers BCE and Telus. He also raises the target price to C$60 from C$56. The stock rose 14% on Wednesday to C$51.21. (adriano.marchese@wsj.com)
(END) Dow Jones Newswires
April 23, 2026 09:11 ET (13:11 GMT)
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