CIBC Raises TELUS (TSE:T) Price Target to C$25.00

Key Points

• CIBC has raised TELUS's target price from C$24.00 to C$25.00, indicating a potential upside of 16.39% from the stock's previous close.
• Analysts have recently issued varied ratings on TELUS, with six recommending a Buy rating and others setting target prices ranging from C$23.00 to C$26.00.
• TELUS shares traded up 1.3% to C$21.48 on Friday, with a 52-week range between C$19.10 and C$23.29.

TELUS (TSE:T - Get Free Report) NYSE: TU had its target price increased by stock analysts at CIBC from C$24.00 to C$25.00 in a report issued on Friday,BayStreet.CA reports. CIBC's price objective indicates a potential upside of 16.39% from the stock's previous close.

T has been the topic of a number of other reports. BMO Capital Markets raised their target price on shares of TELUS from C$23.00 to C$24.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. National Bankshares set a C$23.00 price target on shares of TELUS and gave the company a "sector perform" rating in a report on Tuesday, August 12th. Scotiabank boosted their price objective on TELUS from C$25.00 to C$26.00 and gave the stock an "outperform" rating in a research report on Monday, September 8th. Finally, Desjardins cut their price objective on 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. Six analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, TELUS currently has a consensus rating of "Moderate Buy" and a consensus target price of C$23.46.

TELUS Stock Up 1.3%

Shares of T traded up C$0.28 during trading hours on Friday, hitting C$21.48. 7,979,262 shares of the company were exchanged, compared to its average volume of 4,016,035. The firm's 50 day moving average is C$22.16 and its 200-day moving average is C$21.84. TELUS has a 52 week low of C$19.10 and a 52 week 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. The company has a market cap of C$32.52 billion, a PE ratio of 33.05, a PEG ratio of 1.65 and a beta of 0.92.

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.

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.