TELUS (TSE:T) Downgraded by Morgan Stanley to "Underweight"

Key Points

• Morgan Stanley downgraded TELUS from “equal weight” to “underweight” and cut its price target to C$13.00 from C$20.00, implying downside from the current share price.
• The broader analyst view on TELUS is mixed: while some firms recently raised or maintained bullish ratings, MarketBeat’s consensus remains “Hold” with an average price target of C$18.86.
• TELUS shares fell to C$14.25 after the downgrade, trading near their 52-week low of C$14.02 and below both the 50-day and 200-day moving averages.

TELUS (TSE:T - Get Free Report) NYSE: TU was downgraded by equities research analysts at Morgan Stanley from an "equal weight" rating to an "underweight" rating in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. They currently have a C$13.00 price target on the stock, down from their prior price target of C$20.00. Morgan Stanley's price target points to a potential downside of 8.77% from the stock's current price.

Several other equities research analysts have also recently weighed in on the stock. Raymond James Financial set a C$18.50 price objective on shares of TELUS and gave the company a "market perform" rating in a research report on Thursday, July 16th. TD Securities upgraded shares of TELUS from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 28th. Desjardins decreased their price objective on TELUS from C$21.00 to C$19.00 and set a "buy" rating on the stock in a research report on Wednesday, July 15th. Barclays reduced their target price on shares of TELUS from C$19.00 to C$17.00 in a research note on Thursday, July 16th. Finally, Canaccord Genuity Group dropped their price objective on TELUS from C$16.75 to C$15.50 and set a "hold" rating for the company in a report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of C$18.86.

TELUS Stock Performance

TELUS stock traded down C$0.22 on Tuesday, hitting C$14.25. The company's stock had a trading volume of 4,756,339 shares, compared to its average volume of 7,475,953. TELUS has a one year low of C$14.02 and a one year high of C$23.18. The firm has a market cap of C$22.25 billion, a P/E ratio of 23.75, a price-to-earnings-growth ratio of 1.65 and a beta of 0.47. The company has a quick ratio of 0.52, a current ratio of 0.67 and a debt-to-equity ratio of 199.56. The company has a fifty day moving average price of C$16.16 and a 200-day moving average price of C$17.44.

TELUS (TSE:T - Get Free Report) NYSE: TU last released its quarterly earnings data on Friday, May 8th. The company reported C$0.23 earnings per share for the quarter. The company had revenue of C$4.99 billion for the quarter. TELUS had a return on equity of 6.41% and a net margin of 4.57%. On average, equities analysts anticipate that TELUS will post 1.2267985 earnings per share for the current year.

About TELUS

TELUS Digital, a wholly-owned subsidiary of TELUS Corporation TSX: T, NYSE: TU, crafts unique and enduring experiences for customers and employees, and creates future-focused digital transformations that deliver value for our clients. We are the brand behind the brands. Our global team members are both passionate ambassadors of our clients' products and services, and technology experts resolute in our pursuit to elevate their end customer journeys, solve business challenges, mitigate risks, and drive continuous innovation.

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