TELUS Stock Rating Reaffirmed by Zacks (TU)
TELUS (NYSE:TU)‘s stock had its “neutral” rating reaffirmed by Zacks in a report released on Thursday, AnalystRatings.Net reports. They currently have a $35.00 price objective on the stock. Zacks‘ price objective would indicate a potential upside of 5.77% from the stock’s previous close.
Zacks‘ analyst wrote, “We maintain our Neutral recommendation on Telus. We believe that the company has strong prospects in the Wireless segment backed by technology upgrades, high rollout of smartphones and expansion of the 4G LTE network. The company’s investments in Internet data centers and Optik TV business are expected to reap results in the near future. Going forward, investments in high speed broadband technology and services as well as introduction of shared data plans will likely work in favor of Telus. However, these positives are somewhat mitigated by continuous access lines erosion coupled with economic instability in Canada. In addition, heightened competition from national as well as regional players and spectrum issues are major impediments that need to be addressed in the coming days.”
TU has been the subject of a number of other recent research reports. Analysts at Morgan Stanley upgraded shares of TELUS from an “equal weight” rating to an “overweight” rating in a research note to investors on Monday, September 23rd. Separately, analysts at JPMorgan Chase & Co. initiated coverage on shares of TELUS in a research note to investors on Friday, September 20th. They set a “neutral” rating on the stock. Finally, analysts at RBC Capital upgraded shares of TELUS from a “sector perform” rating to an “outperform” rating in a research note to investors on Tuesday, September 3rd. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $55.40.
Shares of TELUS (NYSE:TU) traded up 2.04% during mid-day trading on Thursday, hitting $33.7665. 36,250 shares of the company’s stock traded hands. TELUS has a 52-week low of $28.15 and a 52-week high of $37.48. The stock’s 50-day moving average is $32.42 and its 200-day moving average is $32.94. The company has a market cap of $21.533 billion and a P/E ratio of 15.73.
TELUS Corporation (NYSE:TU), is a telecommunications companies, providing a range of telecommunications products and services products including wireless, data, Internet protocol, voice and television.
To view Zacks’ full report, visit www.zacks.com
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.