TELUS (TSE:T) Given New C$16.50 Price Target at ATB Cormark Capital Markets

Key Points

• ATB Cormark lowered TELUS’s price target to C$16.50 from C$19.00 while maintaining a “sector perform” rating, implying approximately 9.5% upside from the prior close.
• Analyst sentiment is mixed: TELUS has an overall “Hold” consensus rating and a C$18.68 average target, with recent target reductions from Morgan Stanley and Barclays offset by upgrades from TD Securities.
• TELUS shares traded at C$15.07, near the lower end of their 52-week range, while the company reported C$0.23 quarterly EPS and C$4.99 billion in revenue.

TELUS (TSE:T - Get Free Report) NYSE: TU had its price target lowered by equities research analysts at ATB Cormark Capital Markets from C$19.00 to C$16.50 in a research note issued to investors on Tuesday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the stock. ATB Cormark Capital Markets' price objective indicates a potential upside of 9.49% from the stock's previous close.

Several other research analysts have also issued reports on T. Morgan Stanley lowered TELUS from an "equal weight" rating to an "underweight" rating and lowered their target price for the stock from C$20.00 to C$13.00 in a research report on Tuesday, July 21st. TD Securities raised TELUS from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 28th. TD upgraded TELUS from a "hold" rating to a "buy" rating and lifted their price target for the company from C$19.00 to C$20.00 in a research note on Tuesday, April 28th. Desjardins cut their price objective on shares of TELUS from C$21.00 to C$19.00 and set a "buy" rating on the stock in a report on Wednesday, July 15th. Finally, Barclays dropped their price target on TELUS from C$19.00 to C$17.00 in a report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of C$18.68.

TELUS Price Performance

Shares of T traded up C$0.38 during mid-day trading on Tuesday, reaching C$15.07. The company had a trading volume of 4,206,901 shares, compared to its average volume of 7,470,001. The company's 50 day simple moving average is C$15.90 and its 200 day simple moving average is C$17.31. The company has a market capitalization of C$23.53 billion, a price-to-earnings ratio of 25.12, a P/E/G ratio of 1.65 and a beta of 0.47. TELUS has a 1-year low of C$14.02 and a 1-year high of C$23.18. The company has a debt-to-equity ratio of 199.56, a quick ratio of 0.52 and a current ratio of 0.67.

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

TELUS Company Profile

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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