The Globe and Mail reports in its Friday, Oct. 17, edition that CIBC World Markets analyst Stephanie Price, ahead of third quarter earnings season, made a series of target price adjustments to Canadian telecommunications stocks on Friday. The Globe's David Leeder writes in the Eye On Equities column that Ms. Price says in a note: "Wireless pricing remained rational in Q3, including through back-to-school. That said, lower immigration continues to weigh on the sector and channel checks suggested slightly elevated device subsidies. We are expecting a 2.6-per-cent average wireless ARPU [average revenue per user] decline in Q3, a sequential improvement from trough levels. We are forecasting flattish Q3 year-over-year growth in both consolidated industry revenue and adjusted EBITDA." Ms. Price has reaffirmed her "neutral" recommendation for Cogeco. She gave her share target a $3 trim to $61. Analysts on average target the shares at $88. The Globe reported on July 16, 2024, that Ms. Price continued to rank Cogeco "neutral." The shares could then be had for $51.28.
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