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.
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