TELUS (TSE:T) Price Target Raised to C$26.00

Key Points

• Scotiabank has raised its target price for TELUS from C$25.00 to C$26.00, reflecting a potential upside of 14.39% from the stock's previous close.
• Other brokerages like BMO Capital Markets and Canaccord Genuity Group have also increased their price targets for TELUS, demonstrating overall positive sentiment among analysts.
• Despite the price target increase, TELUS shares traded down C$0.24 to C$22.73 during the last trading session.

TELUS (TSE:T - Get Free Report) NYSE: TU had its target price raised by analysts at Scotiabank from C$25.00 to C$26.00 in a research note issued on Monday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. Scotiabank's price objective indicates a potential upside of 14.39% from the company's previous close.

A number of other brokerages have also recently commented on T. BMO Capital Markets upped their price target on TELUS from C$23.00 to C$24.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Canaccord Genuity Group raised their target price on TELUS from C$20.25 to C$21.50 in a research note on Monday, May 12th. Finally, National Bankshares set a C$23.00 target price on shares of TELUS and gave the company a "sector perform" rating in a report on Tuesday, August 12th. Five analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of C$23.32.

TELUS Trading Down 1.0%

Shares of TELUS stock traded down C$0.24 during trading on Monday, hitting C$22.73. 2,797,739 shares of the company were exchanged, compared to its average volume of 3,877,935. The company has a debt-to-equity ratio of 183.41, a current ratio of 0.69 and a quick ratio of 0.52. The firm's fifty day moving average price is C$22.43 and its 200 day moving average price is C$21.80. TELUS has a 1-year low of C$19.10 and a 1-year high of C$23.43. The firm has a market capitalization of C$34.66 billion, a P/E ratio of 34.97, a price-to-earnings-growth ratio of 1.65 and a beta of 0.98.

TELUS Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.