JPMorgan Chase & Co. Issues Positive Forecast for BCE (TSE:BCE) Stock Price

BCE (TSE:BCE) (NYSE:BCE) had its target price upped by analysts at JPMorgan Chase & Co. from C$28.00 to C$29.00 in a research note issued on Monday,BayStreet.CA reports. JPMorgan Chase & Co.‘s price objective would suggest a potential downside of 7.94% from the company’s current price.

A number of other brokerages have also recently issued reports on BCE. Scotiabank decreased their price objective on shares of BCE from C$40.00 to C$39.50 and set a “sector perform” rating for the company in a report on Wednesday, April 16th. TD Securities increased their price target on shares of BCE from C$31.00 to C$33.00 and gave the stock a “hold” rating in a research report on Friday, February 7th. Barclays lowered shares of BCE from an “equal weight” rating to an “underperform” rating and dropped their price target for the stock from C$41.00 to C$30.00 in a research report on Thursday, January 30th. National Bank Financial raised shares of BCE from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 3rd. Finally, Royal Bank of Canada reduced their price target on shares of BCE from C$37.00 to C$35.00 and set a “sector perform” rating on the stock in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a strong buy rating to the company. According to MarketBeat.com, BCE presently has a consensus rating of “Hold” and an average price target of C$37.64.

BCE Price Performance

Shares of TSE BCE traded down C$0.10 during trading on Monday, hitting C$31.50. The company had a trading volume of 2,134,012 shares, compared to its average volume of 3,983,262. The business’s 50-day moving average is C$31.72 and its 200 day moving average is C$34.37. The company has a debt-to-equity ratio of 226.73, a quick ratio of 0.43 and a current ratio of 0.62. BCE has a 52 week low of C$28.73 and a 52 week high of C$49.13. The company has a market cap of C$28.53 billion, a P/E ratio of 105.68, a PEG ratio of 4.67 and a beta of 0.48.

About BCE

BCE is both a wireless and internet service provider, offering wireless, broadband, television, and landline phone services in Canada. It is one of the big three national wireless carriers, with its roughly 10 million customers constituting about 30% of the market. It is also the ILEC (incumbent local exchange carrierthe legacy telephone provider) throughout much of the eastern half of Canada, including in the most populous Canadian provincesOntario and Quebec.