Cogeco Communications downgraded to Hold from Buy at Desjardins

Desjardins analyst Jerome Dubreuil downgraded Cogeco Communications to Hold from Buy with a C$70 price target. The analyst says the convergence between wireless and wireline “finally appears to be gaining traction.” Despite elevated capex for several years, top-line growth remains under pressure at Cogeco, the analyst tells investors in a research note.