0804 ET - Rogers Communications' strained cash generation is putting pressure on its ability to deleverage, Maher Yaghi says in a Scotiabank report, downgrading the stock to sector perform from sector outperform. He says Rogers Bank, which offers financial products like credit cards, is the main culprit. It has been a drain on Rogers' cash generation these last two years, Yaghi says, making worse an already challenging telecom industry space. Rogers does have an deal in the works to sell a stake in its telecom infrastructure, but even that would only be a one-off benefit, and won't "impact real cash generation nor change the trends that the wireless business is facing," Yaghi says. He adds that "until we start to see positive earnings revisions we don't see an impetus to remain bullish." (adriano.marchese@wsj.com)
(END) Dow Jones Newswires
April 01, 2025 08:04 ET (12:04 GMT)
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