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Analyst Lowers Rogers and Telus Price Targets on Aggressive Spectrum Bidding

Posted on June 06, 2008

In light of the aggressive wireless spectrum auction bidding which to date has now raised C$2.96-billion, Vince Valentini, an analyst with TD Newcrest, downgraded his price targets of Quebecor, Rogers Communications Inc. (RCI) and Telus Corp. (TU).While Quebecor's participation has greatly exceeded analysts (or everyone's for that matter) expectations, the risk of its expansion outside Quebec has forced Mr. Valentini to lower the 12-month price target from C$39 to C$38....

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analyst , wireless spectrum