The Globe and Mail reports in its Friday, Nov. 10, edition that Desjardins Securities analyst Jerome Dubreuil continues to rate Quebecor "buy." The Globe's David Leeder writes in the Eye On Equities column that Mr. Dubreuil raised his share target by $1.50 to $38. Analysts on average target the Class B shares at $38.13.
Mr. Dubreuil says in a note: "It is increasingly clear that Quebecor is adopting a prudent approach to its Freedom integration. We believe the Freedom brand relaunch is making the industry more competitive, but at the same time it does not look like the company is aiming for pure disruption. While this approach could potentially delay the brand's growth, it does reduce operational and financial risk." The Globe reported on April 4 that Mr. Dubreuil continued to have a positive view of Quebecor, which he rated "buy." The shares were then worth $34.18. The Globe reported on April 13 and Oct. 27 that National Bank analyst Adam Shine had reaffirmed Quebecor at "outperform." The shares could then be had for $34.26 and $27.74.
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