10:18 AM EST, 11/17/2021 (MT Newswires) -- Rogers Communications Inc.'s (RCI-B.TO) appointment of Tony Staffieri as Interim President and CEO on Tuesday, should put an end to recent senior leadership uncertainty, Scotiabank says.
Analyst Jeff Fan said Staffieri provides the Canadian media and telecom company with continuity and focus on delivering operating and financial results.
"We also think he is incentivized and focused on completing the Shaw acquisition and that he is appropriately aligned with the company's long-term objectives on important decisions such as financing arrangements, regulatory approvals, and potential merger remedies," Fan said in a note to clients.
The analyst said he does not expect this announcement to have an impact on the CRTC hearing next week or its final decision.
Fan maintained a Sector Outperform rating and $80 price target on Rogers shares.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)