10 Most Undervalued Canadian Stocks to Buy According to Wall Street Analysts

8. Rogers Communications Inc. (NYSE:RCI)

Forward P/E Ratio as of April 21: 7.47

Number of Hedge Fund Holders: 17

Average Upside Potential as of April 21: 45.62%

Rogers Communications Inc. (NYSE:RCI) is a communications and media company. It operates through three segments: Wireless, Cable, and Media. It offers a range of products and services, such as mobile Internet access, wireless voice & enhanced voice, device financing, IoT solutions, internet & WiFi services, security, and even on-demand television.

In 2024, Rogers attracted more subscribers than any of its competitors and added a combined 623,000 wireless and Internet net additions. Specifically within Wireless, the company added 512,000 net postpaid and prepaid phone subscribers throughout the year and led the Canadian wireless sector for the third consecutive year.

In Q4 2024, Wireless service revenue increased by 2% year-over-year. Rogers Communications Inc. (NYSE:RCI) added 95,000 net postpaid and prepaid phone subscribers in Q4. While this was down year-on-year due to a smaller market size resulting from government policies, the majority of these new subscribers were on Rogers’ premium 5G brand. The 2025 outlook reflects overall single-digit growth for total service revenue.