RBC Capital raised the firm’s price target on Rogers Communications to C$66 from C$65 and keeps an Outperform rating on the shares. Despite coming at a slightly higher purchase price and accelerated timeline relative to RBC’s expectations, the company’s acquisition of a majority stake in Maple Leaf Sports & Entertainment is seen as a logical outcome that is consistent with Rogers’ strategy and desire to invest in sports assets, the analyst tells investors in a research note.
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Read More on RCI:
- Tony Staffieri and Edward Rogers discuss MLSE deal with Ron MacLean
- Eyes on Fed ahead of expected interest rate cut: Morning Buzz
- Rogers Communications to become majority owner of MLSE for C$4.7B
- Rogers to Become Majority Owner of Maple Leaf Sports & Entertainment
- Rogers buys 37.5% Maple Leaf Sports stake from BCE for $3.5B, Sportico reports
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