Analyst Vince Valentini from TD Cowen maintained a Buy rating on BCE and increased the price target to C$40.00 from C$38.00.
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Vince Valentini has given his Buy rating due to a combination of factors, including increased confidence in BCE’s long‑term strategy and a modestly higher valuation on its wireline assets. After meetings with the CEO, he viewed management’s tone as calm and assured, and he believes the company is progressing well toward its 2028 financial and operational objectives, particularly in executing its AI data‑centre strategy.
He also raised his price target to C$40.00 from C$38.00 by applying a higher EBITDA multiple to the wireline business, which now includes AI‑related fibre and data‑centre initiatives. In addition, with growing uncertainty at a key peer around leadership transition and dividend sustainability, he sees BCE as the sector’s near‑term defensive choice, with potential to command a valuation premium as investors seek stability and predictable cash flows.
Valentini covers the Communication Services sector, focusing on stocks such as Rogers Communication, Telus, and BCE. According to TipRanks, Valentini has an average return of 0.5% and a 55.20% success rate on recommended stocks.
In another report released on February 6, BMO Capital also maintained a Buy rating on the stock with a C$37.00 price target.