Scotiabank Issues Positive Forecast for BCE (TSE:BCE) Stock Price

Key Points

• Scotiabank has raised its price target for BCE stock from C$39.50 to C$41.50, indicating a potential upside of 23.44% from its previous close.
• Market analysts have mixed ratings for BCE, with one Strong Buy, three Buy, seven Hold, and two Sell ratings, resulting in an average target of C$34.88.
• As of the latest trading, BCE shares are priced at C$33.62, below both the new price target and its twelve-month high of C$49.13.

BCE (TSE:BCE - Get Free Report) NYSE: BCE had its price objective hoisted by equities researchers at Scotiabank from C$39.50 to C$41.50 in a report issued on Monday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. Scotiabank's price objective would suggest a potential upside of 23.44% from the stock's previous close.

A number of other research analysts have also weighed in on BCE. National Bankshares set a C$35.00 target price on BCE and gave the company an "outperform" rating in a report on Tuesday, August 12th. JPMorgan Chase & Co. raised their price objective on shares of BCE from C$28.00 to C$29.00 in a research note on Monday, May 12th. Desjardins upped their target price on BCE from C$40.00 to C$40.50 and gave the company a "buy" rating in a research report on Sunday, August 10th. UBS Group dropped their target price on shares of BCE from C$34.00 to C$32.00 in a report on Wednesday, May 21st. Finally, Cibc World Mkts cut shares of BCE from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 3rd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of C$34.88.

BCE Stock Performance

Shares of TSE BCE traded down C$0.61 during trading hours on Monday, reaching C$33.62. The stock had a trading volume of 2,304,198 shares, compared to its average volume of 3,712,936. The business's fifty day moving average is C$33.28 and its two-hundred day moving average is C$32.00. The company has a debt-to-equity ratio of 226.73, a current ratio of 0.62 and a quick ratio of 0.43. The company has a market cap of C$30.99 billion, a price-to-earnings ratio of 73.09, a PEG ratio of 4.67 and a beta of 0.65. BCE has a twelve month low of C$28.73 and a twelve month 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.

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