Telus ( (TSE:T) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
Telus Corp. experienced a stock price decline after BofA downgraded the stock from Buy to Neutral. The downgrade was due to concerns about the company’s ‘unsustainable’ leverage and a dividend exceeding its free cash flow. Additionally, Telus’s reported free cash flow includes contributions from a subsidiary that cannot be used for dividends, prompting a reduction in forecasted dividend growth from 7% to 4%. Despite these issues, some analysts have raised the price target for Telus, indicating mixed market sentiment about its future performance.
More about Telus
YTD Price Performance: 12.01%
Average Trading Volume: 3,707,403
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $22.67B
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