- RBC Capital analyst Drew McReynolds downgraded Rogers Communications Inc (NYSE:RCI) to Sector Perform from Outperform with a price target of C$72, down from C$76, implying a 48.5% upside.
- The analyst cites the “ongoing” board dispute and contends that the company needs a “functioning” governance to address the proposed remedies on the Shaw (SJR) transaction, transaction financing, crystallization of any non-telecom assets, a multi-year integration, and critical 5G spectrum auctions.
- McReynolds adds, however, that he continues to see a high probability of the Rogers-Shaw transaction closing, given the solid and broad internal support at Rogers for the transaction.
- Price Action: RCI shares traded closed by 5.84% at $45.66 on Monday.
Lennox International Q2 EPS $5.00 Beats $4.76 Estimate, Sales $1.37B Beat $1.35B Estimate
Lennox International (NYSE:LII) reported quarterly earnings of $5.00 per share which beat the analyst consensus estimate of $4.76 by 5.04 percent. This is a 9.41 percent increase over earnings of $4.57 per share from the
