Rogers’ share price dropped 4% on November 20 for no good reason. It may have
slipped due to concerns about lower data prices or imminent spectrum auction
rules, or it could have been due to misinterpreted comments about a potential
price war led by TELUS. Whatever the reason, none of these concerns appear
.valid. Lowest multiples ever. Rogers trades at only 14x NTM cash EPS, and 19x
fully-taxed EPS, with 50% expected EPS growth in 2008. Our $64/share target
represents 20x NTM EPS one year forward. Rogers also trades at a 7.7% NTM FCF
yield. Dividend growth should be substantial. We believe this is the best
buying opportunity on Rogers in the past year.
from BNS
slipped due to concerns about lower data prices or imminent spectrum auction
rules, or it could have been due to misinterpreted comments about a potential
price war led by TELUS. Whatever the reason, none of these concerns appear
.valid. Lowest multiples ever. Rogers trades at only 14x NTM cash EPS, and 19x
fully-taxed EPS, with 50% expected EPS growth in 2008. Our $64/share target
represents 20x NTM EPS one year forward. Rogers also trades at a 7.7% NTM FCF
yield. Dividend growth should be substantial. We believe this is the best
buying opportunity on Rogers in the past year.
from BNS