01:14 PM EDT, 04/25/2024 (MT Newswires) -- Rogers delivered a solid Q1 yesterday and communicated well on its conference call. yet shares fell more than 3%, writes National Bank's Adam Shine.

"Some investors wondered if Rogers hitting its $1 billion synergies target exiting Q1 (one year ahead of original schedule) was a sell signal, . . . and why wasn't guidance raised". Shine points out that the 2024 outlook was just given at the start of February, so no quick update should have been expected, and reaching the $1 billion in synergies in Q1 had already been well telegraphed last summer, so this wasn't unexpected.

Rogers is rated Outperform, with a $76 target.

Price: 51.67, Change: -0.63, Percent Change: -1.20