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Rogers and Telus get short-term sell ratings

Posted on July 08, 2008

Rogers Communications Inc. and Telus Corp. had their price targets cut and received short-term sell ratings from UBS analyst Jeffrey Fan due to the negative impact the wireless spectrum auction may have on their share prices. Both have seen sharp share price declines see the auction process began, but an attractive buying opportunity could emerge after the negative news flow dissipates.Mr. Fan moved Rogers to $51 per share from $54 and Telus to $43 from from $46 to reflect the high costs of licenses in the auction, the potential impact of a new competitor in Ontario and the greater risk ...

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analyst , ontario , wireless