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Investing.com - BMO Capital upgraded Quebecor (TSX:QBR-B) (OTC:QBCRF) from Market Perform to Outperform on Thursday, while raising its price target to C$47.00 from C$40.00.
The upgrade reflects BMO’s view that Quebecor is "well-positioned to succeed in the current low-volume loading environment," according to the research note accompanying the rating change.
BMO’s new price target is based on approximately 7.0x the company’s estimated 2027 EBITDA, representing a significant increase from its previous valuation model.
The research firm highlighted Quebecor’s "long growth runway to take share" in its markets as a key factor behind the more bullish outlook.
BMO also noted that Quebecor has "an opportunity to price up the market through continued network improvements," suggesting potential for revenue growth beyond simple subscriber acquisition.
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