BCE (TSE:BCE) Stock Rating Upgraded by Scotiabank

BCE (TSE:BCE - Get Free Report) NYSE: BCE was upgraded by stock analysts at Scotiabank from a "hold" rating to a "strong-buy" rating in a report released on Monday, MarketBeat Ratings reports. The firm currently has a C$39.00 price target on the stock. Scotiabank's target price would suggest a potential upside of 29.65% from the stock's current price.

A number of other equities analysts have also weighed in on the company. Desjardins lifted their price objective on BCE from C$36.00 to C$39.00 and gave the company a "hold" rating in a research note on Friday, May 9th. National Bank Financial upgraded BCE from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 3rd. Royal Bank of Canada reduced their price objective on BCE from C$37.00 to C$35.00 and set a "sector perform" rating for the company in a research note on Friday, May 9th. JPMorgan Chase & Co. lifted their price target on BCE from C$28.00 to C$29.00 in a research note on Monday, May 12th. Finally, National Bankshares lifted their price target on BCE from C$35.00 to C$36.00 and gave the company a "sector perform" rating in a research note on Tuesday, March 11th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of C$37.13.

BCE Stock Performance

BCE stock traded down C$0.03 during midday trading on Monday, reaching C$30.08. The stock had a trading volume of 2,254,231 shares, compared to its average volume of 3,918,095. The stock has a market cap of C$27.25 billion, a PE ratio of 100.91, a P/E/G 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 firm has a fifty day simple moving average of C$30.37 and a two-hundred day simple moving average of C$33.09. BCE has a 52-week low of C$28.73 and a 52-week high of C$49.13.

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.