JPMorgan Chase & Co. Issues Pessimistic Forecast for BCE (TSE:BCE) Stock Price

BCE (TSE:BCE) (NYSE:BCE) had its price target reduced by equities research analysts at JPMorgan Chase & Co. from C$29.00 to C$28.00 in a research note issued on Thursday,BayStreet.CA reports. The firm currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential downside of 13.53% from the stock’s previous close.

BCE has been the topic of several other reports. Scotiabank lowered their price target on shares of BCE from C$42.00 to C$40.00 and set a “sector perform” rating on the stock in a report on Friday, February 7th. National Bankshares upped their target price on BCE from C$35.00 to C$36.00 and gave the stock a “sector perform” rating in a research note on Tuesday, March 11th. Canaccord Genuity Group lifted their price target on BCE from C$33.00 to C$33.50 and gave the company a “hold” rating in a research report on Friday, February 7th. Royal Bank of Canada lowered their price objective on BCE from C$45.00 to C$41.00 and set a “sector perform” rating on the stock in a research report on Wednesday, December 18th. Finally, TD Securities boosted their target price on shares of BCE from C$31.00 to C$33.00 and gave the company a “hold” rating in a research note on Friday, February 7th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of C$39.36.

BCE Stock Up 1.4 %

BCE stock opened at C$32.38 on Thursday. The firm’s fifty day simple moving average is C$33.71 and its 200-day simple moving average is C$37.40. The company has a market capitalization of C$29.33 billion, a P/E ratio of 108.63, a price-to-earnings-growth ratio of 4.67 and a beta of 0.48. The company has a debt-to-equity ratio of 226.73, a current ratio of 0.62 and a quick ratio of 0.43. BCE has a 12 month low of C$30.71 and a 12 month high of C$49.13.

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.