BCE (TSE:BCE) Given New C$37.00 Price Target at CIBC

Key Points

• CIBC raised the price target for BCE from C$36.00 to C$37.00, indicating a potential upside of 11.75% from the stock's current price.
• Overall, BCE's stock ratings include one Strong Buy, five Buy, five Hold, and two Sell ratings, with an average rating of "Hold" and a consensus price target of C$36.17.
• BCE's shares increased by 1.1% during trading on Wednesday, bringing the stock price to C$33.11.

BCE (TSE:BCE - Get Free Report) NYSE: BCE had its price target lifted by equities research analysts at CIBC from C$36.00 to C$37.00 in a report issued on Wednesday,BayStreet.CA reports. The brokerage presently has a "neutral" rating on the stock. CIBC's price target would indicate a potential upside of 11.75% from the stock's current price.

A number of other equities research analysts also recently issued reports on BCE. National Bankshares set a C$35.00 price objective on shares of BCE and gave the stock an "outperform" rating in a research note on Tuesday, August 12th. Scotiabank lifted their price target on shares of BCE from C$39.50 to C$41.50 and gave the company an "outperform" rating in a research report on Monday, September 8th. Royal Bank Of Canada upgraded BCE from a "sector perform" rating to an "outperform" rating and lifted their target price for the stock from C$35.00 to C$47.00 in a research note on Wednesday. BMO Capital Markets lowered their price objective on BCE from C$51.00 to C$35.00 and set a "market perform" rating on the stock in a research note on Tuesday, August 5th. Finally, TD Securities raised BCE from a "hold" rating to a "buy" rating and boosted their price objective for the stock from C$35.00 to C$37.00 in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of C$36.17.

BCE Stock Up 1.1%

Shares of BCE stock traded up C$0.36 during trading on Wednesday, reaching C$33.11. The company's stock had a trading volume of 4,791,173 shares, compared to its average volume of 3,693,308. The business has a fifty day moving average price of C$33.44 and a 200-day moving average price of C$31.78. The company has a quick ratio of 0.43, a current ratio of 0.62 and a debt-to-equity ratio of 226.73. The company has a market cap of C$30.52 billion, a price-to-earnings ratio of 71.98, a price-to-earnings-growth ratio of 4.67 and a beta of 0.57. BCE has a one year low of C$28.73 and a one year high of C$46.62.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.