BMO Capital Markets cuts price targets on shares for Canada’s big telecom players
Advertisement
Read this article for free:
or
Already have an account? Log in here »
To continue reading, please subscribe:
Digital Subscription
One year of digital access for only $1.44 a week*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Billed as $5.77 plus GST every four weeks. After 52 weeks, price increases to the regular rate of $19.95 plus GST every four weeks. Offer available to new and qualified returning subscribers only. Cancel any time.
To continue reading, please subscribe:
Add Free Press access to your Brandon Sun subscription for only an additional
$1 for the first 4 weeks*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Your next Brandon Sun subscription payment will increase by $1.00 and you will be charged $17.95 plus GST for four weeks. After four weeks, your payment will increase to $24.95 plus GST every four weeks.
Read unlimited articles for free today:
or
Already have an account? Log in here »
Hey there, time traveller!
This article was published 02/04/2024 (929 days ago), so information in it may no longer be current.
TORONTO – Shares of some of Canada’s big telecommunications companies fell as BMO Capital Markets cut its share price targets for several names in the sector.
The firm also lowered its ratings on both BCE Inc. and Quebecor Inc. to market perform from outperform on a slower growth outlook based on competitive pressures.
The move came as BMO lowered its target price for BCE shares to $46 from $54, while its target for Quebecor shares fell to $33 from $42.
It also cut its share price target for Rogers Communications Inc. to $65 compared with $80. Its target for Telus Corp. shares went to $24, from $26.
BCE shares closed down $1.17 at $44.72 in trading on the Toronto Stock Exchange, while Quebecor class B shares were down $1.03 at $28.69.
Rogers class B shares fell $1.27 to $54.01, while Telus shares rose five cents at $21.64.
This report by The Canadian Press was first published April 2, 2024.
Companies in this story: (TSX:BCE, TSX:QBR.B, TSX:RCI.B, TSX:T)