CIBC Capital Markets lowered its price target on Rogers Communications Inc. (RCI-B.TO) to $55 from $76.
Analyst Stephanie Price resumed coverage of the Canadian media and telecom company (following a 10-month restriction related to Rogers' acquisition of Bell's 37.5% ownership stake in MLSE) with an Outperformer rating.
"In our view, the transaction has solidified Rogers' position as one of the largest sports owners in North America," Price said in a note to clients.
"Rogers views Sports & Media as core to its business, and we expect the company to acquire the remaining MLSE ownership percentage in 2026 and eventually look to monetize the Sports & Media business through a private sale, IPO or spin out," 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)
