TELUS (T) Price Target Cut to C$50.00

TELUS (TSE:T) (NYSE:TU) had its price objective dropped by equities researchers at JPMorgan Chase & Co. from C$53.00 to C$50.00 in a research report issued on Monday. JPMorgan Chase & Co.’s price target indicates a potential upside of 10.77% from the company’s current price.

Several other equities analysts also recently weighed in on T. Scotiabank upgraded shares of TELUS from a “sector perform” rating to an “outperform” rating and raised their target price for the company from C$50.00 to C$54.00 in a report on Wednesday, October 25th. National Bank Financial raised their target price on shares of TELUS from C$48.00 to C$50.00 and gave the company an “outperform” rating in a report on Friday, November 10th. Royal Bank of Canada upgraded shares of TELUS from a “sector perform” rating to an “outperform” rating and raised their target price for the company from C$47.00 to C$51.00 in a report on Friday, November 10th. TD Securities raised their target price on shares of TELUS from C$49.00 to C$51.00 and gave the company a “hold” rating in a report on Friday, November 10th. Finally, Desjardins raised their target price on shares of TELUS from C$49.50 to C$51.00 in a report on Monday, November 13th. Five research analysts have rated the stock with a buy rating, TELUS currently has a consensus rating of “Buy” and an average target price of C$50.92.

Shares of TELUS (TSE:T) traded up C$0.24 on Monday, hitting C$45.14. 815,107 shares of the stock were exchanged, compared to its average volume of 1,002,191. The stock has a market cap of $26,520.00, a P/E ratio of 21.19 and a beta of 0.49. TELUS has a 1-year low of C$42.22 and a 1-year high of C$48.94.

TELUS (TSE:T) (NYSE:TU) last posted its earnings results on Thursday, November 9th. The company reported C$0.66 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.67 by C($0.01). TELUS had a net margin of 11.03% and a return on equity of 17.49%. The business had revenue of C$3.37 billion for the quarter, compared to analysts’ expectations of C$3.38 billion.

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About TELUS

TELUS Corporation (TELUS) is a telecommunications company. The Company provides a range of telecommunications services and products, including wireless and wireline voice and data. Its data services include Internet protocol (IP), television (TV), hosting, managed information technology and cloud-based services, and certain healthcare solutions.

Analyst Recommendations for TELUS (TSE:T)

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