TELUS (TSE:T) Cut to “Hold” at Scotiabank

Scotiabank cut shares of TELUS (TSE:T) (NYSE:TU) from a strong-buy rating to a hold rating in a research note issued to investors on Thursday morning,Zacks.com reports.

Several other analysts have also recently issued reports on the company. TD Securities cut TELUS from a “buy” rating to a “hold” rating and decreased their price objective for the stock from C$21.00 to C$19.00 in a report on Thursday, April 2nd. BMO Capital Markets cut TELUS from an “outperform” rating to a “hold” rating and decreased their price objective for the stock from C$23.00 to C$19.00 in a report on Thursday, December 11th. Canaccord Genuity Group cut TELUS from a “buy” rating to a “hold” rating and decreased their price objective for the stock from C$21.00 to C$17.50 in a report on Thursday. Morgan Stanley decreased their price objective on TELUS from C$25.00 to C$20.00 in a report on Wednesday, December 10th. Finally, Desjardins decreased their price objective on TELUS from C$23.00 to C$21.50 and set a “buy” rating on the stock in a report on Tuesday, April 7th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of C$20.45.

TELUS Stock Performance

Shares of T stock opened at C$16.41 on Thursday. TELUS has a 12 month low of C$16.23 and a 12 month high of C$23.18. The company has a current ratio of 0.86, a quick ratio of 0.52 and a debt-to-equity ratio of 199.42. The stock has a market cap of C$25.62 billion, a PE ratio of 22.79, a price-to-earnings-growth ratio of 1.65 and a beta of 0.56. The company’s fifty day moving average price is C$18.36 and its 200-day moving average price is C$19.09.

TELUS (TSE:T) (NYSE:TU) last issued its quarterly earnings data on Thursday, February 12th. The company reported C$0.20 earnings per share (EPS) for the quarter. The business had revenue of C$5.23 billion for the quarter. TELUS had a return on equity of 7.68% and a net margin of 5.47%. On average, equities analysts expect that TELUS will post 1.2267985 EPS for the current fiscal year.

Key Headlines Impacting TELUS

Here are the key news stories impacting TELUS this week:

• Positive Sentiment: Royal Bank of Canada kept an “outperform” rating despite trimming its price target from C$23.00 to C$22.00, implying continued upside from current levels and providing an institutional vote of confidence. RBC lowers PT but keeps outperform
• Positive Sentiment: Desjardins reiterated a Buy on TELUS, which supports demand for the shares versus peers and helps underpin the stock amid broader analyst churn. Desjardins remains a buy
• Neutral Sentiment: Aggregate analyst coverage shows an average “Hold” recommendation, indicating consensus caution and limited near-term analyst-driven upside. Analysts give TELUS average Hold
• Neutral Sentiment: Desjardins trimmed its price target to C$21.50 — a downgrade in upside but still above current trading, so it moderates expectations without flipping sentiment to outright negative. Desjardins lowers PT to C$21.50
• Negative Sentiment: Canaccord Genuity downgraded TELUS from “Buy” to “Hold” and cut its target to C$17.50, narrowing upside and signaling increased near‑term risk from a formerly bullish analyst. Canaccord downgrades to Hold, PT C$17.50
• Negative Sentiment: Analyst commentary collected by TipRanks highlights slower growth, mounting competitive pressure and dividend uncertainty — factors likely to keep a lid on the multiple investors are willing to pay. TipRanks: slower growth & dividend uncertainty
• Negative Sentiment: Quebecor is increasingly cited as a top competitive threat to Rogers, TELUS and Bell, raising execution and market‑share risk in key Canadian markets. Quebecor called top threat to incumbents
• Negative Sentiment: TELUS announced it shed roughly 2,800 Canadian jobs in 2025 as it pivots toward AI and international growth — a signal of cost-cutting but also of structural transition and domestic pressure on revenue/operations. TELUS job cuts 2,800

About TELUS

Telus is one of the Big Three wireless service providers in Canada, with its 9 million mobile phone subscribers nationwide constituting about 30% of the total market. It is the incumbent local exchange carrier in the western Canadian provinces of British Columbia and Alberta, where it provides internet, television, and landline phone services. It also has a small wireline presence in eastern Quebec. In recent years Telus has moved to bring fiber to the home over most of its wireline footprint as it upgrades its legacy copper network, leaving it able to compete on more equal footing with cable providers.