TELUS (TSE:T) Price Target Lowered to C$24.00 at Desjardins

Key Points

• The price target for TELUS has been reduced by Desjardins from C$25.00 to C$24.00, while maintaining a "buy" rating, indicating a potential upside of 12.62% from the current price.
• Other analysts have varying outlooks, with Scotiabank raising its target to C$26.00 and BMO Capital Markets to C$24.00, reflecting a consensus average target price of C$23.38.
• TELUS shares were trading at C$21.31, showing a modest gain of 0.6%, and the company holds a significant market position with about 30% of Canada's mobile phone subscribers.

TELUS (TSE:T - Get Free Report) NYSE: TU had its price target dropped by investment analysts at Desjardins from C$25.00 to C$24.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the stock. Desjardins' target price would suggest a potential upside of 12.62% from the company's current price.

A number of other analysts have also issued reports on the company. Scotiabank raised their target price on TELUS from C$25.00 to C$26.00 and gave the company an "outperform" rating in a report on Monday, September 8th. BMO Capital Markets raised their target price on TELUS from C$23.00 to C$24.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Finally, National Bankshares set a C$23.00 target price on TELUS and gave the company a "sector perform" rating in a report on Tuesday, August 12th. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of C$23.38.

TELUS Stock Up 0.6%

Shares of TSE T traded up C$0.13 during mid-day trading on Thursday, reaching C$21.31. 2,081,335 shares of the company traded hands, compared to its average volume of 3,953,939. The company has a debt-to-equity ratio of 183.41, a quick ratio of 0.52 and a current ratio of 0.69. The stock has a market cap of C$32.27 billion, a PE ratio of 32.78, a price-to-earnings-growth ratio of 1.65 and a beta of 0.92. The company's fifty day moving average is C$22.23 and its two-hundred day moving average is C$21.80. TELUS has a fifty-two week low of C$19.10 and a fifty-two week high of C$23.29.

About TELUS

Telus is one of the Big Three wireless service providers in Canada, with its 9 million mobile phone subscribers nationwide constituting about 30% of the total market. It is the incumbent local exchange carrier in the western Canadian provinces of British Columbia and Alberta, where it provides internet, television, and landline phone services.

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