Telus upgraded to Outperform from Sector Perform at Scotiabank

Scotiabank upgraded Telus (TU) to Outperform from Sector Perform with a C$24 price target With the Canadian Radio-television and Telecommunications Commission setting interim rates for wholesale fiber internet access, it is “time to look ahead not backward,” the analyst tells investors in a research note. The firm believes BCE and Telus “have dodged a big bullet here,” saying the CRTC “saw fit to continue to provide network builders with the needed returns to continue to deploy capital.”