Shaw Communications downgraded to Sector Perform from Outperform at Scotiabank

Scotiabank analyst Maher Yaghi downgraded Shaw Communications to Sector Perform from Outperform with a C$40.50 price target after the company reported "weak" Q1 results. While some investors might react to these results and "begin to wonder if Rogers and/or Quebecor could be having buyer’s remorse," he does not think the results are "a true reflection of the underlying business," Yaghi tells investors. However, he is taking this opportunity however to lower his recommendation as upside from current levels "has become limited," Yaghi added.