TELUS (NYSE:TU) Given New $21.50 Price Target at Canaccord Genuity Group

TELUS (NYSE:TU - Get Free Report) TSE: T had its target price hoisted by stock analysts at Canaccord Genuity Group from $20.25 to $21.50 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a "hold" rating on the Wireless communications provider's stock. Canaccord Genuity Group's price target points to a potential upside of 36.25% from the company's previous close.

Several other research firms have also recently commented on TU. StockNews.com upgraded shares of TELUS from a "sell" rating to a "hold" rating in a research report on Monday, February 10th. Cormark lowered TELUS from a "moderate buy" rating to a "hold" rating in a report on Tuesday, March 4th. Finally, Bank of America downgraded TELUS from a "buy" rating to a "neutral" rating in a research note on Friday, March 21st. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, TELUS presently has an average rating of "Hold" and a consensus price target of $21.50.

TELUS Stock Performance

Shares of TU traded up $0.08 during midday trading on Monday, hitting $15.78. 1,957,446 shares of the stock traded hands, compared to its average volume of 2,914,310. The business's 50 day moving average price is $14.81 and its two-hundred day moving average price is $14.82. The firm has a market capitalization of $23.89 billion, a PE ratio of 32.20, a price-to-earnings-growth ratio of 5.18 and a beta of 0.73. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.61 and a current ratio of 0.68. TELUS has a 1-year low of $13.24 and a 1-year high of $17.27.

Institutional Investors Weigh In On TELUS

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barclays PLC boosted its stake in TELUS by 38.5% during the 3rd quarter. Barclays PLC now owns 467,148 shares of the Wireless communications provider's stock valued at $7,839,000 after purchasing an additional 129,934 shares in the last quarter. Tidal Investments LLC acquired a new stake in shares of TELUS in the third quarter valued at $320,000. Pacifica Partners Inc. boosted its stake in TELUS by 15.0% during the fourth quarter. Pacifica Partners Inc. now owns 159,459 shares of the Wireless communications provider's stock valued at $2,170,000 after buying an additional 20,770 shares in the last quarter. Avanza Fonder AB acquired a new position in TELUS during the fourth quarter worth about $412,000. Finally, Nexus Investment Management ULC raised its position in TELUS by 1.8% in the fourth quarter. Nexus Investment Management ULC now owns 2,225,265 shares of the Wireless communications provider's stock worth $30,103,000 after acquiring an additional 38,450 shares in the last quarter. Institutional investors own 49.40% of the company's stock.

TELUS Company Profile

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications and information technology products and services in Canada. It operates through Technology Solutions and Digitally-Led Customer Experiences segments. The Technology Solutions segment offers a range of telecommunications products and services; network services; healthcare services; mobile technologies equipment; data services, such as internet protocol; television; hosting, managed information technology, and cloud-based services; software, data management, and data analytics-driven smart food-chain and consumer goods technologies; home and business security; healthcare software and technology solutions; and voice and other telecommunications services, as well as mobile and fixed voice and data telecommunications services and products.