In a report published on Thursday, BMO Capital Markets analyst Tim Casey upgraded BCE BCE from Market Perform to Outperform and lowered the price target on the company from $47 to $45.
In the report, BMO Capital Markets stated, "There is growing uncertainty regarding wireless competition that we believe is causing a re-rating of incumbent wireless businesses. As such, we are upgrading shares of large incumbent providers with relatively low exposure to wireless. On a consolidated basis, BCE derives ~30% of consolidated EBITDA from wireless, vs. ~65% for TELUS and ~63% for Rogers Communications."
BCE closed on Wednesday at $39.76.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.