Desjardins Lowers TELUS (TSE:T) Price Target to C$19.00

TELUS (TSE:T) (NYSE:TU) had its target price decreased by Desjardins from C$21.00 to C$19.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Desjardins’ price target points to a potential upside of 27.86% from the stock’s previous close.

Several other research analysts also recently commented on the stock. Royal Bank Of Canada dropped their price objective on shares of TELUS from C$22.00 to C$20.00 and set an “outperform” rating for the company in a report on Friday, July 10th. TD Securities raised TELUS from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 28th. Barclays decreased their target price on TELUS from C$20.00 to C$19.00 in a research report on Tuesday, April 14th. Canaccord Genuity Group dropped their price target on TELUS from C$16.75 to C$15.50 and set a “hold” rating for the company in a research note on Friday, July 10th. Finally, TD upgraded TELUS from a “hold” rating to a “buy” rating and raised their price target for the company from C$19.00 to C$20.00 in a report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of C$19.36.

TELUS Price Performance

Shares of TSE:T opened at C$14.86 on Wednesday. The company has a debt-to-equity ratio of 199.56, a quick ratio of 0.52 and a current ratio of 0.67. The firm has a fifty day moving average price of C$16.27 and a 200 day moving average price of C$17.48. TELUS has a fifty-two week low of C$14.28 and a fifty-two week high of C$23.18. The firm has a market cap of C$23.20 billion, a price-to-earnings ratio of 24.77, a P/E/G ratio of 1.65 and a beta of 0.47.

TELUS (TSE:T) (NYSE:TU) last posted its earnings results on Friday, May 8th. The company reported C$0.23 earnings per share for the quarter. The company had revenue of C$4.99 billion during the quarter. TELUS had a net margin of 4.57% and a return on equity of 6.41%. As a group, sell-side analysts expect that TELUS will post 1.2267985 earnings per share for the current fiscal year.

TELUS News Roundup

Here are the key news stories impacting TELUS this week:

• Positive Sentiment: Raymond James set a new C$18.50 price target and kept a “market perform” rating, suggesting upside from current levels even after the stock’s recent weakness. TELUS Given New C$18.50 Price Target at Raymond James Financial, Inc.
• Positive Sentiment: Desjardins still rates TELUS a “buy” despite cutting its target to C$19.00, indicating the firm remains constructive on the stock’s longer-term outlook. TELUS Price Target Cut to C$19.00 by Analysts at Desjardins
• Neutral Sentiment: News that the TELUS World of Science in Edmonton may remain closed until November due to flood damage is a local operating issue, but it does not appear material to TELUS’s core telecom business. Telus World of Science could stay closed until November due to flood damage
• Neutral Sentiment: Additional reports said the science centre temporarily laid off staff and launched an emergency fund for workers after flooding, reinforcing the event as a non-core, reputationally mixed development rather than a direct driver for TELUS earnings. Telus World of Science Edmonton temporarily lays off staff as flood closure stretches into November
• Negative Sentiment: Barclays lowered its price target to C$17.00 from C$19.00, which adds to the recent pressure on TELUS shares by signaling less upside than before. TELUS had its price target lowered by Barclays PLC from C$19.00 to C$17.00

About TELUS

TELUS Digital, a wholly-owned subsidiary of TELUS Corporation (TSX: T, NYSE: TU), crafts unique and enduring experiences for customers and employees, and creates future-focused digital transformations that deliver value for our clients. We are the brand behind the brands. Our global team members are both passionate ambassadors of our clients’ products and services, and technology experts resolute in our pursuit to elevate their end customer journeys, solve business challenges, mitigate risks, and drive continuous innovation.