Managing Partner, VRS (Valuation & Research Specialists)

VRS (Valuation & Research Specialists)

Managing Partner

Valuation & Research Specialists (VRS) is a boutique financial advisor with more than 17 years of experience in Corporate Valuation and Finance, and a diversified client base including some of the largest Companies in Greece.

Since 2002, VRS has completed more than 200 engagements in the areas of business valuation and financial analysis for more than 100 clients in a wide range of industries.

VRS has been honored to work with small and large private and publicly traded companies in Europe and overseas.

Boutique Financial Advisor

Equity Bottom-Up

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<h3>The Company</h3>
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<p>Cogeco Communications Inc. (“Cogeco”, the “Corporation”, “CCA” or the “Company”) is a Canadian telecommunications and media public company and subsidiary of Cogeco Inc. The Company is based in Montreal Canada and was founded in 1972. Its subordinate voting shares are listed on the Toronto Stock Exchange. Cogeco provides residential and business customers with Internet, video and telephony services. The Company operates through two segments: Canadian broadband services and American broadband services. The Company offer services, such as Internet services, video services, telephony services and business services. Cogeco Communications is the second largest cable operator in Québec and Ontario and the eighth largest cable operator in the United States.</p>
<h3>Growth Drivers</h3>
<p>The Company operates in the communications services industry and as a result, its profitability heavily relies on its competitive position in the Canadian and American market. The future growth of Cogeco Communications heavily depends on its ability to make fruitful acquisitions, something that has done successfully in the previous years, as well as tap on new markets and technologies.</p>
<h3>Valuation Results</h3>
<p>Our suggested target price for Cogeco Communications was derived by using a peer group valuation and a FCFF valuation. For the peer group we’ve used EV/Sales and EV/EBITDA ratios. Our results indicate the stock is undervalued compared to its peers, with an estimated price per share of CA$ 115.64 or an upside potential of 76.87%. Our FCFF valuation suggests a price of CA$ 65.80 or an upside potential of 0.64%. Finally, using equal weights among our methods, we arrived at a target price of CA$ 90.72 or an upside potential of 38.75%.</p>
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The Company




Cogeco Communications Inc. (“Cogeco”, the “Corporation”, “CCA” or the “Company”) is a Canadian telecommunications and media public company and subsidiary of Cogeco Inc. The Company is based in Montreal Canada and was founded in 1972. Its subordinate voting shares are listed on the Toronto Stock Exchange. Cogeco provides residential and business customers with Internet, video and telephony services. The Company operates through two segments: Canadian broadband services and American broadband services. The Company offer services, such as Internet services, video services, telephony services and business services. Cogeco Communications is the second largest cable operator in Québec and Ontario and the eighth largest cable operator in the United States.
Growth Drivers
The Company operates in the communications services industry and as a result, its profitability heavily relies on its competitive position in the Canadian and American market. The future growth of Cogeco Communications heavily depends on its ability to make fruitful acquisitions, something that has done successfully in the previous years, as well as tap on new markets and technologies.
Valuation Results
Our suggested target price for Cogeco Communications was derived by using a peer group valuation and a FCFF valuation. For the peer group we’ve used EV/Sales and EV/EBITDA ratios. Our results indicate the stock is undervalued compared to its peers, with an estimated price per share of CA$ 115.64 or an upside potential of 76.87%. Our FCFF valuation suggests a price of CA$ 65.80 or an upside potential of 0.64%. Finally, using equal weights among our methods, we arrived at a target price of CA$ 90.72 or an upside potential of 38.75%.









Initiation of Coverage - Cogeco Communications Inc.

Canada

Cogeco Communications Inc. is a cable television operator.  The Company markets basic cable television services and various discretionary services, which include pay television, audio programming, and high-speed Internet access by cable modem. Cogeco Communications serves customers throughout Canada.

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Cogeco Communications (CCA CN)

Initiation of Coverage - Cogeco Communications Inc.

The Company Cogeco Communications Inc. (“Cogeco”, the “Corporation”, “CCA” or the “Company”) is a Canadian telecommunications and media...

VRS (Valuation & Research Specialists)

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