Canaccord upgraded Cogeco Communications (CGEAF) to Buy from Hold with a price target of C$77, up from C$65. While Cogeco “is still some distance from turning the corner and posting meaningful growth in its financials,” there is adequate evidence to suggest a degree of stability in its outlook, the analyst tells investors in a research note. The firm sees encouraging signs in terms of the initiatives that are being deployed to deal with headwinds.
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