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    « We Have Good Company In Endeavor | Main | Endeavor Gains First Buy Recommendation »

    January 09, 2007

    Rogers Splits and Reports Subscriber Statistics

    Rogers Communications (RG) shares began trading on a 2 for 1 split adjusted basis yesterday when the company also announced preliminary 4Q06 subscriber statistics for their wireless and cable operations. Wireless subscriber growth was in line with Street estimates with a surprisingly low churn rate. Low churn ahead of the pending roll out of number portable in Canada is a good thing as it might indicate that RG is locking up its subscribers. Low churn and in line subscriber additions might also be good for 4Q06 wireless EBITDA. In cable, subscriber metrics were also largely in line with estimates. VOIP Telephony, the current growth driver, saw better than expected subscriber additions while basic and digital subscriber additions were each slightly short of estimates. RG reports its full results later this month. Based on the preliminary subscriber report I see no reason to alter my buy recommendation or target price of $36.

    Posted by Steve Birenberg at January 9, 2007 08:22 AM in RG

    Comments

    I have been reading all the materials you send me and just wanted to let you know how impressed I am with your insight and your writing ability to make it clear for the average investor like me. If you think I may be a bit prejudiced due to my relationship, that is not the case. I am impressed because your thoughts and writing are excellent and my portfolio is performing great!

    Posted by: Jane Birenberg at January 10, 2007 12:10 PM

    All other readers of NorthlakeCapital.com should know that Jane Birenberg is my mother. But I'll take compliments anywhere I can get them!

    Thanks, Mom.

    Steve

    Posted by: at January 10, 2007 01:16 PM
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