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

TELUS (TSE:T) (NYSE:TU) had its price target reduced by stock analysts at JPMorgan Chase & Co. from C$23.00 to C$22.00 in a report issued on Thursday,BayStreet.CA reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 10.50% from the company’s current price.

T has been the topic of several other reports. BMO Capital Markets lifted their price objective on TELUS from C$24.00 to C$25.00 in a research report on Thursday, September 5th. Cormark dropped their price target on shares of TELUS from C$26.00 to C$25.00 in a research note on Monday, November 11th. National Bankshares cut shares of TELUS from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from C$24.00 to C$22.00 in a research note on Friday, December 13th. National Bank Financial cut TELUS from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 12th. Finally, Barclays decreased their price objective on shares of TELUS from C$24.00 to C$23.00 in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of C$24.06.

TELUS Price Performance

Shares of T stock opened at C$19.91 on Thursday. The stock’s fifty day simple moving average is C$21.17 and its 200 day simple moving average is C$21.70. The company has a debt-to-equity ratio of 171.58, a current ratio of 0.66 and a quick ratio of 0.52. TELUS has a one year low of C$19.10 and a one year high of C$24.92. The firm has a market cap of C$29.47 billion, a price-to-earnings ratio of 37.57, a P/E/G ratio of 1.65 and a beta of 0.72.

Insiders Place Their Bets

In other TELUS news, Director Victor George Dodig purchased 100,000 shares of the stock in a transaction dated 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. Also, Director Marc Parent acquired 19,100 shares of TELUS stock in a transaction that occurred on Tuesday, December 10th. The stock was acquired at an average cost of C$22.04 per share, for a total transaction of C$420,964.00. Corporate insiders own 0.02% of the company’s stock.

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.