Tim Casey, an analyst from BMO Capital, maintained the Buy rating on Telus. The associated price target remains the same with C$24.00.
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Tim Casey has given his Buy rating due to a combination of factors that highlight Telus’s strategic positioning and growth potential. The stabilization in the wireless competitive environment, with less aggressive promotions and maintained price increases, suggests a more favorable market condition for Telus. Despite a slight reduction in revenue forecasts due to weaker roaming and equipment sales, the overall outlook remains positive as the company is expected to benefit from a more rational pricing environment.
Additionally, Telus’s ongoing deleveraging initiatives, such as the sale of its tower portfolio, demonstrate a proactive approach to strengthening its financial position. The company’s focus on growth areas like Telus Health, along with potential partnerships and asset monetization, further supports its attractive growth profile. These strategic moves, coupled with Telus’s strong track record in core telecom performance, underpin Tim Casey’s optimistic outlook and Buy rating.
According to TipRanks, Casey is a 4-star analyst with an average return of 7.5% and a 60.19% success rate. Casey covers the Communication Services sector, focusing on stocks such as Rogers Communication, BCE, and Telus.