Canaccord analyst Aravinda Galappatthige lowered the firm’s price target on Telus (TU) to C$20.75 from C$22 and keeps a Hold rating on the shares. The firm previewed its results and reconsidered its modeling assumptions in light of a still elevated competitive environment and continued pressure on wireless sub growth due to changes to immigration. Canaccord lowered its EBITDA and free cash flow estimates but still sees sustanability for its dividend payout ratio.
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Read More on TU:
- Telus assumed with an Equal Weight at Morgan Stanley
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- Telus price target lowered to C$23.25 from C$24 at Scotiabank
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