BCE (TSE:BCE) Given New C$35.00 Price Target at TD Securities

Key Points

• TD Securities has raised its price target for BCE from C$33.00 to C$35.00, indicating a potential upside of 4.14% from the current stock price.
• Analysts have mixed views on BCE, with various ratings including "neutral," "market perform," and "strong buy," leading to an average rating of "Hold."
• BCE's stock closed at C$33.61 on the latest trading day, with a market capitalization of C$30.44 billion.

BCE (TSE:BCE - Get Free Report) NYSE: BCE had its target price upped by stock analysts at TD Securities from C$33.00 to C$35.00 in a report issued on Friday,BayStreet.CA reports. The firm presently has a "hold" rating on the stock. TD Securities' price target indicates a potential upside of 2.58% from the stock's previous close.

A number of other analysts have also recently issued reports on BCE. Scotiabank raised shares of BCE from a "hold" rating to a "strong-buy" rating and set a C$39.00 price objective for the company in a research note on Monday, June 2nd. National Bankshares set a C$35.00 price objective on shares of BCE and gave the stock an "outperform" rating in a research note on Friday, June 6th. Royal Bank Of Canada reduced their price objective on shares of 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. UBS Group reduced their price objective on shares of BCE from C$34.00 to C$32.00 in a research note on Wednesday, May 21st. Finally, Canaccord Genuity Group increased their price objective on shares of BCE from C$31.50 to C$32.00 and gave the stock a "hold" rating in a research note on Friday, May 9th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, BCE has an average rating of "Hold" and a consensus target price of C$34.42.

BCE Price Performance

Shares of TSE BCE traded up C$0.35 during midday trading on Friday, reaching C$34.12. The stock had a trading volume of 315,862 shares, compared to its average volume of 3,793,026. The stock has a 50-day moving average of C$31.67 and a 200-day moving average of C$31.90. 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 company has a market capitalization of C$30.91 billion, a price-to-earnings ratio of 114.47, a price-to-earnings-growth ratio of 4.67 and a beta of 0.48. BCE has a 12-month low of C$28.73 and a 12-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.