CIBC Issues Pessimistic Forecast for TELUS (TSE:T) Stock Price

TELUS (TSE:T) (NYSE:TU) had its price objective dropped by equities researchers at CIBC from C$25.00 to C$24.00 in a report issued on Wednesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. CIBC’s target price suggests a potential upside of 20.36% from the company’s current price.

Other research analysts also recently issued research reports about the company. Barclays reduced their price target on TELUS from C$24.00 to C$23.00 in a report on Wednesday, October 9th. TD Securities reduced their target price on TELUS from C$26.00 to C$25.00 and set a “buy” rating for the company in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. dropped their price target on shares of TELUS from C$23.00 to C$22.00 and set a “neutral” rating for the company in a research note on Thursday, January 2nd. Cormark reduced their price objective on shares of TELUS from C$26.00 to C$25.00 in a research note on Monday, November 11th. Finally, Royal Bank of Canada decreased their price objective on shares of TELUS from C$25.00 to C$24.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of C$24.00.

TELUS Stock Performance

Shares of T stock opened at C$19.94 on Wednesday. The company’s fifty day moving average price is C$20.95 and its two-hundred day moving average price is C$21.64. The company has a debt-to-equity ratio of 171.58, a current ratio of 0.66 and a quick ratio of 0.52. The firm has a market capitalization of C$29.51 billion, a P/E ratio of 37.62, a P/E/G ratio of 1.65 and a beta of 0.72. TELUS has a 12 month low of C$19.10 and a 12 month high of C$24.92.

Insider Buying and Selling

In other TELUS news, Director Marc Parent purchased 19,100 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was bought at an average price of C$22.04 per share, with a total value of C$420,964.00. Also, Director Victor George Dodig bought 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was bought at an average price of C$21.38 per share, with a total value of C$2,138,000.00. 0.02% of the stock is owned by company insiders.

TELUS Company Profile

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications and information technology products and services in Canada. It operates through Technology Solutions and Digitally-Led Customer Experiences segments. The Technology Solutions segment offers a range of telecommunications products and services; network services; healthcare services; mobile technologies equipment; data services, such as internet protocol; television; hosting, managed information technology, and cloud-based services; software, data management, and data analytics-driven smart food-chain and consumer goods technologies; home and business security; healthcare software and technology solutions; and voice and other telecommunications services, as well as mobile and fixed voice and data telecommunications services and products.