TELUS (NYSE:TU) Upgraded by Bank of America to "Buy" Rating

Key Points

• Bank of America upgraded TELUS to a "Buy" and raised its price target to $16.00, signaling roughly a 16.8% upside from the prior close.
• Analyst consensus is a Moderate Buy — six Buys, three Holds and one Sell — with an average price target of $17.63.
• TELUS recently missed quarterly EPS ($0.15 vs. $0.18), opened at $13.70, trades within a 12‑month range of $12.54–$16.74, has a PE of 26.34 and a debt-to-equity ratio of 1.65.

TELUS (NYSE:TU - Get Free Report) TSE: T was upgraded by analysts at Bank of America from a "neutral" rating to a "buy" rating in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a $16.00 target price on the Wireless communications provider's stock, up from their prior target price of $14.50. Bank of America's price target indicates a potential upside of 16.83% from the company's previous close.

Other equities research analysts also recently issued reports about the stock. TD Securities reiterated a "buy" rating on shares of TELUS in a research note on Friday, February 13th. Barclays decreased their target price on shares of TELUS from $15.00 to $14.00 and set an "equal weight" rating on the stock in a research report on Monday, November 10th. BMO Capital Markets cut shares of TELUS from an "outperform" rating to a "market perform" rating in a research report on Thursday, December 11th. JPMorgan Chase & Co. restated an "underweight" rating and issued a $19.00 price target (down from $22.00) on shares of TELUS in a research note on Tuesday, November 18th. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of TELUS in a research note on Monday, December 29th. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $17.63.

TELUS Trading Down 0.0%

Shares of TU opened at $13.70 on Tuesday. TELUS has a 12-month low of $12.54 and a 12-month high of $16.74. The stock's fifty day simple moving average is $13.64 and its 200-day simple moving average is $14.33. The company has a quick ratio of 0.81, a current ratio of 0.86 and a debt-to-equity ratio of 1.65. The firm has a market capitalization of $21.21 billion, a PE ratio of 26.34, a price-to-earnings-growth ratio of 1.62 and a beta of 0.68.

TELUS (NYSE:TU - Get Free Report) TSE: T last posted its earnings results on Thursday, February 12th. The Wireless communications provider reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.03). TELUS had a return on equity of 8.42% and a net margin of 5.42%.The company had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.85 billion. During the same quarter in the previous year, the firm posted $0.25 earnings per share. As a group, research analysts predict that TELUS will post 0.71 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TU. Parvin Asset Management LLC bought a new stake in shares of TELUS during the 2nd quarter worth $27,000. Manchester Capital Management LLC increased its holdings in shares of TELUS by 320.0% in the fourth quarter. Manchester Capital Management LLC now owns 2,247 shares of the Wireless communications provider's stock worth $30,000 after buying an additional 1,712 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA increased its stake in TELUS by 129.0% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 2,473 shares of the Wireless communications provider's stock worth $33,000 after purchasing an additional 1,393 shares during the period. Flagship Harbor Advisors LLC bought a new stake in TELUS during the 4th quarter valued at $33,000. Finally, Farther Finance Advisors LLC grew its stake in shares of TELUS by 35.0% in the third quarter. Farther Finance Advisors LLC now owns 2,926 shares of the Wireless communications provider's stock worth $46,000 after purchasing an additional 759 shares during the last quarter. Institutional investors own 49.40% of the company's stock.

About TELUS

TELUS Corporation NYSE: TU is a Canadian telecommunications and technology company headquartered in Vancouver, British Columbia. It delivers a broad portfolio of consumer and business communications services across Canada, including mobile wireless, fixed-line voice, broadband internet, and television. TELUS also provides a range of enterprise services such as cloud and IT solutions, managed network services, cybersecurity and Internet of Things (IoT) offerings for business customers.

Beyond core connectivity, TELUS has expanded into health and digital services.

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