Canaccord Genuity Group Forecasts Strong Price Appreciation for TELUS (TSE:T) Stock

TELUS (TSE:T - Free Report) NYSE: TU had its price target raised by Canaccord Genuity Group from C$20.25 to C$21.50 in a research note published on Monday,BayStreet.CA reports.

Several other equities research analysts also recently issued reports on the stock. Cormark downgraded shares of TELUS from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, March 4th. TD Securities raised their price objective on shares of TELUS from C$24.00 to C$25.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. Royal Bank of Canada cut their price objective on shares of TELUS from C$25.00 to C$24.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Bank of America downgraded shares of TELUS from a "buy" rating to a "neutral" rating and cut their price objective for the stock from C$24.00 to C$22.00 in a research report on Friday, March 21st. Finally, Scotiabank set a C$23.50 price objective on shares of TELUS and gave the stock an "outperform" rating in a research report on Wednesday, April 16th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of C$22.88.

TELUS Stock Up 0.8%

Shares of TSE T traded up C$0.17 during mid-day trading on Monday, hitting C$22.07. The company had a trading volume of 2,996,257 shares, compared to its average volume of 4,300,300. The company has a market capitalization of C$33.23 billion, a PE ratio of 35.81, a price-to-earnings-growth ratio of 1.65 and a beta of 0.72. The firm has a 50-day simple moving average of C$20.82 and a two-hundred day simple moving average of C$21.01. The company has a current ratio of 0.69, a quick ratio of 0.52 and a debt-to-equity ratio of 183.41. TELUS has a one year low of C$19.10 and a one year high of C$23.43.

Insider Transactions at TELUS

In other news, Director Hazel Cynthia Claxton acquired 1,845 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were acquired at an average cost of C$21.70 per share, with a total value of C$40,036.50. Insiders own 0.02% of the company's stock.

TELUS Company Profile

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications and information technology products and services in Canada. It operates through Technology Solutions and Digitally-Led Customer Experiences segments. The Technology Solutions segment offers a range of telecommunications products and services; network services; healthcare services; mobile technologies equipment; data services, such as internet protocol; television; hosting, managed information technology, and cloud-based services; software, data management, and data analytics-driven smart food-chain and consumer goods technologies; home and business security; healthcare software and technology solutions; and voice and other telecommunications services, as well as mobile and fixed voice and data telecommunications services and products.