Telesat (TSE:TSA) Upgraded at Canadian Imperial Bank of Commerce

Telesat (TSE:TSA) was upgraded by stock analysts at Canadian Imperial Bank of Commerce to a “strong-buy” rating in a note issued to investors on Sunday, Zacks reports.

Other equities analysts have also issued reports about the company. Stifel Nicolaus raised Telesat to a “strong-buy” rating in a research note on Wednesday, July 15th. Scotiabank raised shares of Telesat to a “hold” rating in a research report on Monday, July 13th. Finally, Royal Bank Of Canada raised shares of Telesat to a “moderate buy” rating in a research report on Thursday, August 27th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Telesat Price Performance

Telesat is a Canadian satellite communications company that provides data, video, and connectivity services through its satellite infrastructure. The company serves a range of customers that include broadcasters, telecom operators, government agencies, and enterprise users that need reliable communications in remote or hard-to-reach locations.

Founded in 1969, Telesat has a long history in the satellite industry and is headquartered in Ottawa, Ontario. Its services are delivered to customers across Canada and internationally, supporting applications such as network backhaul, enterprise connectivity, and broadcast distribution.