The Globe and Mail reports in its Saturday edition Roger Communications' stock looks more promising than BCE but the full story is far more interesting than that. The Globe's Scott Barlow writes their stocks have traded off of different valuation multiples. For BCE, price to earnings has been the best predictor of stock performance while for Rogers, price to book value has been the best indicator of future stock performance. For BCE, investor returns improved as the price-earnings ratio declined and Rogers's stock performance climbed as price to book ratios fell. Based on this analysis, and despite the most recent quarterly profits report, Rogers stock looks like the more promising investment by a significant margin. It is not a surprise that Canaccord Genuity analyst Dvai Ghose raised his rating on the stock from "hold" to "buy" this week, with the belief that the stock is oversold. BCE is trading with a price-earnings ratio of 15.5 times, which is 18.3 per cent higher than the 10-year average of 13.1. For Rogers the price to book value is 4.2 times, which is 17 per cent more attractive than the 10-year average of 5.1 times. Valuation levels become more important as industry profit growth slows.