CIBC Forecasts Strong Price Appreciation for BCE (TSE:BCE) Stock

BCE (TSE:BCE) (NYSE:BCE) had its price target raised by research analysts at CIBC from C$36.00 to C$37.00 in a research note issued on Wednesday,BayStreet.CA reports. The brokerage currently has a “neutral” rating on the stock. CIBC’s target price indicates a potential upside of 11.18% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Cibc World Mkts lowered BCE from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 3rd. National Bankshares set a C$35.00 target price on BCE and gave the company an “outperform” rating in a research note on Tuesday, August 12th. BMO Capital Markets cut their target price on BCE from C$51.00 to C$35.00 and set a “market perform” rating on the stock in a research note on Tuesday, August 5th. Royal Bank Of Canada upgraded BCE from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from C$35.00 to C$47.00 in a research note on Wednesday. Finally, Scotiabank lifted their target price on BCE from C$39.50 to C$41.50 and gave the company an “outperform” rating in a research note on Monday, September 8th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, BCE presently has a consensus rating of “Hold” and a consensus price target of C$36.17.

BCE Price Performance

BCE opened at C$33.28 on Wednesday. The business’s 50-day moving average is C$33.47 and its two-hundred day moving average is C$31.79. BCE has a 1 year low of C$28.73 and a 1 year high of C$46.59. The company has a debt-to-equity ratio of 226.73, a current ratio of 0.62 and a quick ratio of 0.43. The firm has a market capitalization of C$30.68 billion, a PE ratio of 72.35, a price-to-earnings-growth ratio of 4.67 and a beta of 0.57.

BCE Company Profile

BCE is both a wireless and internet service provider, offering wireless, broadband, television, and landline phone services in Canada. It is one of the big three national wireless carriers, with its roughly 10 million customers constituting about 30% of the market. It is also the ILEC (incumbent local exchange carrierthe legacy telephone provider) throughout much of the eastern half of Canada, including in the most populous Canadian provincesOntario and Quebec.