The Globe and Mail reports in its Friday edition that CIBC World Markets analyst Stephanie Price, ahead of third quarter earnings season for Canada's telecommunications companies, reduced her target multiples for Cogeco to reflect a "difficult" market environment, seeing the impact of rate, competitive and regulatory concerns. The Globe's David Leeder writes in the Eye On Equities column that Ms. Price trimmed her share target for Cogeco by $6 to $58. Analysts on average target the shares at $81.50. Ms. Price continues to rate the shares "neutral." Ms. Price says in a note: "We believe that the market has stabilized somewhat, with back-to-school less aggressive than feared and pricing up quarter-over-quarter in both wireless and wireline. We expect Q3 to reflect solid organic wireless subscriber growth (approximately 5 per cent year-over-year), but slower ARPU [average revenue per user] growth (down 0.4 per cent year-over-year, excluding the Q3/22 outage credit) as telecom providers focus on subscriber growth in a more competitive environment. We expect average Q3 organic EBITDA growth of 4 per cent and expect free cash flow growth and the sustainability of dividend growth models to be key topics in the quarter."