BCE (TSE:BCE) Price Target Lowered to C$35.00 at BMO Capital Markets

Key Points

• BMO Capital Markets has lowered its price target for BCE from C$51.00 to C$35.00, maintaining a "market perform" rating, suggesting a potential upside of 6.97% from the previous close.
• Desjardins upgraded BCE from "hold" to "buy" and increased the target price to C$40.00, while other analysts have given mixed ratings ranging from "sell" to "strong buy."
• BCE's stock is currently trading at C$32.72, with a market capitalization of C$29.64 billion and several financial ratios indicating a challenging debt situation.

BCE (TSE:BCE - Get Free Report) NYSE: BCE had its price objective reduced by research analysts at BMO Capital Markets from C$51.00 to C$35.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The firm presently has a "market perform" rating on the stock. BMO Capital Markets' price objective would suggest a potential upside of 6.97% from the company's previous close.

A number of other research analysts have also recently weighed in on BCE. Desjardins upgraded BCE from a "hold" rating to a "buy" rating and lifted their target price for the company from C$39.00 to C$40.00 in a report on Tuesday. National Bankshares set a C$35.00 target price on BCE and gave the company an "outperform" rating in a report on Friday, June 6th. UBS Group reduced their price objective on BCE from C$34.00 to C$32.00 in a research note on Wednesday, May 21st. Canaccord Genuity Group boosted their price objective on BCE from C$31.50 to C$32.00 and gave the stock a "hold" rating in a research note on Friday, May 9th. Finally, Cibc World Mkts cut BCE from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of C$34.21.

BCE Trading Up 0.6%

BCE stock traded up C$0.19 during midday trading on Tuesday, reaching C$32.72. The stock had a trading volume of 1,820,192 shares, compared to its average volume of 3,800,391. BCE has a twelve month low of C$28.73 and a twelve month high of C$49.13. The stock has a market capitalization of C$29.64 billion, a PE ratio of 109.77, a price-to-earnings-growth ratio of 4.67 and a beta of 0.48. The company has a debt-to-equity ratio of 226.73, a quick ratio of 0.43 and a current ratio of 0.62. The stock's 50-day simple moving average is C$31.29 and its 200 day simple moving average is C$31.91.

BCE Company Profile

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.

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