BMO Capital analyst Tim Casey downgraded Telus (TU) to Market Perform from Outperform with a price target of C$19, down from C$23. Despite the recent selloff, Telus continues to trade at a premium valuation to its incumbent peers, the analyst tells investors in a research note. The firm believes the company’s core telecom business is growing in line with peers while the outlook for Telus Digital is unclear. TD cites lower growth prospects, the company’s debt and valuation for the downgrade.
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