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On Wednesday, Quebecor Inc. (QBR-B:CN) (OTC: QBCRF) received an upgraded stock rating by RBC Capital from "Sector Perform" to "Outperform." Accompanying this upgrade, the firm also raised the price target for Quebecor from Cdn$37.00 to Cdn$39.00.
The positive shift in Quebecor's rating is attributed to what RBC Capital perceives as a more favorable risk-reward scenario for the company. This reassessment comes as the analyst anticipates an improvement in the company's wireless and Internet average revenue per user (ARPU) over the medium term.
The analyst's outlook suggests a more disciplined pricing environment for Quebecor beginning in 2025. This expected change is seen as a driving factor for the increased ARPU projections, which in turn have led to the higher price target.
RBC Capital's new price target of Cdn$39.00 represents an increase from the previous Cdn$37.00 target. This adjustment reflects the anticipated positive developments in Quebecor's business operations and market positioning in the coming years.
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