8 Best Communication Stocks To Buy According to Analysts

6. Rogers Communications Inc. (NYSE:RCI)

Average Price Target Upside: 29.18%

Number of Hedge Fund Holders: 22

One of the best communication stocks, Rogers Communications Inc. (NYSE:RCI) is a Canadian telecommunications and media company with a wide-ranging presence in wireless communication, cable TV, and internet services. It operates one of Canada’s largest wireless networks and serves millions of customers nationwide. The company also holds significant stakes in television, radio, and sports, making it a major player in Canada’s media landscape.

As one of the leading wireless providers in Canada, it connects 11.7 million mobile subscribers across more than 2,200 communities through its expansive 5G network. The company also serves over 60% of Canadian households and offers reliable internet, innovative TV services like the Xfinity platform, and top-tier home security. It also delivers tailored connectivity solutions to more than 4 million businesses and supports both small and large enterprises.

On October 8, Rogers (NYSE:RCI) announced that starting January 1, 2025, it will exclusively host Warner Bros. Discovery’s suite of English-language U.S. lifestyle and factual channels in Canada. This move comes after Bell Media dropped its legal challenge to prevent Canadians from accessing Discovery channels.

As the exclusive distributor and advertising representative for Discovery brands in Canada, the company will launch channels like Discovery ID and Discovery, along with additional content from Cooking, OWN, MotorTrend, Animal Planet, and Discovery Science.

On September 18, Rogers (NYSE:RCI) announced it has agreed to purchase Bell’s 37.5% stake in Maple Leaf Sports & Entertainment (MLSE) for C$4.7 billion. The deal strengthens the company’s position in sports and entertainment, which are key components of its business strategy. Over the past decade, Rogers has invested C$14 billion in Canadian sports, and this purchase will further support its efforts to bring championships to the country.

The company’s financing plan ensures the deal won’t impact its debt levels, with private investors involved in the funding. The transaction will also secure long-term Canadian ownership of the MLSE teams. After the acquisition, Rogers (NYSE:RCI) will hold a controlling 75% stake in MLSE, expanding its sports portfolio, which includes ownership of the Toronto Blue Jays and Rogers Centre, as well as partnerships with other Canadian sports teams.