BMO Capital Markets Cuts TELUS (TSE:T) Price Target to C$23.00

TELUS (TSE:T) (NYSE:TU) had its target price reduced by stock analysts at BMO Capital Markets from C$24.00 to C$23.00 in a report released on Monday,BayStreet.CA reports. BMO Capital Markets’ price objective indicates a potential upside of 10.95% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Desjardins reduced their price target on shares of TELUS from C$25.00 to C$24.00 and set a “buy” rating for the company in a research report on Thursday, October 9th. Scotiabank lifted their target price on shares of TELUS from C$25.00 to C$26.00 and gave the stock an “outperform” rating in a research note on Monday, September 8th. CIBC raised their target price on shares of TELUS from C$24.00 to C$25.00 in a research report on Friday, October 17th. Finally, National Bankshares set a C$23.00 price target on TELUS and gave the stock a “sector perform” rating in a research note on Tuesday, August 12th. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, TELUS has an average rating of “Moderate Buy” and an average price target of C$23.38.

TELUS Stock Performance

TSE:T traded down C$0.04 during mid-day trading on Monday, reaching C$20.73. The stock had a trading volume of 3,106,899 shares, compared to its average volume of 4,090,562. The firm has a market capitalization of C$31.65 billion, a price-to-earnings ratio of 31.89, a PEG ratio of 1.65 and a beta of 0.93. The business has a 50 day simple moving average of C$21.59 and a 200 day simple moving average of C$21.92. TELUS has a twelve month low of C$19.10 and a twelve month high of C$23.29. The company has a debt-to-equity ratio of 183.41, a quick ratio of 0.52 and a current ratio of 0.69.

TELUS Company Profile

Telus is one of the Big Three wireless service providers in Canada, with its 9 million mobile phone subscribers nationwide constituting about 30% of the total market. It is the incumbent local exchange carrier in the western Canadian provinces of British Columbia and Alberta, where it provides internet, television, and landline phone services.