CIBC lowered the firm’s price target on Telus Digital (TIXT) to $3.40 from $4.50 and keeps a Neutral rating on the shares. Telus has submitted a non-binding indication of interest to acquire all outstanding shares of Telus Digital not already owned by Telus for $3.40 per share. CIBC does not the bid to bring in other bidders for Telus Digital given customer concentration and the company’s recent execution missteps.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TIXT:
- Telus Digital moved to No Rating at BofA
- Oracle reports Q4 beat, BioNTech to acquire CureVac: Morning Buzz
- Telus International rises 24.8%
- “Enhanced AI Capabilities”; Telus (TSE:T) Looks to Take Back Telus Digital
- Stifel ‘wouldn’t rule out’ competing bid for Telus International
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue