Shaw Communications (SJR.B) Upgraded to “Buy” by Canaccord Genuity

Shaw Communications (TSE:SJR.B) (NYSE:SJR) was upgraded by investment analysts at Canaccord Genuity from a “hold” rating to a “buy” rating in a report issued on Friday. The brokerage presently has a C$28.50 price objective on the stock, up from their prior price objective of C$28.00. Canaccord Genuity’s price target suggests a potential upside of 9.40% from the stock’s previous close.

A number of other research analysts also recently commented on SJR.B. TD Securities upgraded Shaw Communications from a “buy” rating to an “action list buy” rating and set a C$34.00 target price on the stock in a research note on Friday, January 12th. Desjardins lowered their target price on Shaw Communications from C$30.50 to C$30.00 in a research note on Friday, January 12th. Royal Bank of Canada lowered their target price on Shaw Communications from C$30.00 to C$29.00 and set an “outperform” rating on the stock in a research note on Friday, January 12th. CIBC lowered their target price on Shaw Communications from C$31.00 to C$28.00 in a research note on Friday, January 12th. Finally, Scotiabank lowered their target price on Shaw Communications from C$29.00 to C$28.00 and set a “sector perform” rating on the stock in a research note on Friday, January 12th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of C$29.72.

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TSE:SJR.B traded down C$0.37 during trading hours on Friday, hitting C$26.05. 1,037,418 shares of the company’s stock traded hands, compared to its average volume of 1,000,000. Shaw Communications has a twelve month low of C$24.31 and a twelve month high of C$30.44.

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Shaw Communications Company Profile

Shaw Communications Inc (Shaw) is a diversified connectivity provider. The Company operates through four divisions: Consumer, Wireless, Business Network Services and Business Infrastructure Services. Under the Consumer division, the Company offers Cable telecommunications and Satellite video services to residential customers.

Analyst Recommendations for Shaw Communications (TSE:SJR.B)

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