Canaccord Lifts Rogers Price Target to C$57 as Q4 Media Segment Excels
Canaccord raised Rogers Communications’ price target to C$57 from C$55, retaining a Buy rating on improved earnings and cash flow outlook. Q4 results beat forecasts as Media segment lifted EBITDA and free cash flow, while 2026 guidance revised service revenue higher and cut capex to boost cash generation.
1. Price Target Raised to C$57
Canaccord lifted Rogers Communications’ price target to C$57 from C$55 and retained a Buy rating, highlighting confidence in the company’s earnings trajectory and cash flow outlook driven by asset diversification.
2. Q4 Financial Performance
Rogers exceeded Q4 forecasts as Media segment growth generated outsized contributions to EBITDA and free cash flow, while wireless service revenue held flat with ARPU pressure and churn stabilization, and the Cable segment delivered stable earnings.
3. 2026 Guidance and Valuation Outlook
Management projected higher 2026 service revenue and free cash flow while trimming capital expenditures to boost cash generation and reduce leverage, with a sum-of-parts EV/EBITDA valuation indicating attractive upside potential.