The Globe and Mail reports in its Thursday, Dec. 7, edition that Desjardins Securities analyst Jerome Dubreuil is "more positive" on the Canadian telecommunications industry heading into 2024 than he has been all this year, citing "improved visibility and 2023 underperformance." The Globe's David Leeder writes that Mr. Dubreuil has reaffirmed his "buy" recommendation for Rogers Communications. His share target soared $5.50 to $76. Analysts on average target the shares at $72.71. Mr. Dubreuil says in a note: "We are moving our telecom valuations to 2025, which is when RCI/SJR synergies should be almost fully reflected in the company's results -- this makes RCI attractive on an free-cash-flow basis. As the company is on track to deliver on its synergy targets and the veil has been lifted on several regulatory and competition-based unknowns, it is now easier to live with its leverage. We see a reasonably clear path toward deleveraging. As more investors move their valuations to 2025 given companies will report their results in early 2024, we believe the relative undervaluation of RCI should become more apparent. We highlight that the company boasts the highest FCF yield among the Big 3 by an unusually wide margin."